Goodluck Jonathan Unveils $18.6bn Centenary City in Abuja

The President of the Federal Republic of Nigeria, Dr. Goodluck Ebele Azikiwe Jonathan on Tuesday 24th June, unveiled the Centenary City Legacy Project.

A Replicate of Beautiful Attractions In Dubai To Be Birthed in Nigeria

The cost of the economic project situated at Abuja Airport Road which is meant to commemorate the 100 years of the nation’s amalgamation was put at N2.976tr ($18.6 bn).

Jonathan in his remarks described the project that was designed to cover 1,200 hectares of land as a city of hope and elegant as well as a symbol of the nation’s unity.

The Centenary City PLC, a wholly private sector driven company has also partnered with EMAAR group which is supported by the UAE government to build the tallest building in Africa, attracting other projects like Formular 1 Standard racing circuit spanning up to 5.5 km, World Class Amusement parks, and other Tourists friendly projects.

EMAAR Group has to it credit the world’s tallest building which features the world’s first Armani Hotel, Dubai and the World’s highest restaurant. The Dubai Mall – has World’s largest shopping and entertainment destination; and The Dubai Fountain, the world’s tallest performing fountain set in a 30 acre lake.

These and many more are expected to be replicated in Abuja, putting Nigeria on the global map as Africa's tourists destination.

Secretary to the Government of the Federation, Senator Pius Anyim, said that the city is not a housing project but strictly an economic project.

Anyim said the residential area that would be provided would only complement the business concerns.

He disclosed that the development of  the city would be at no cost to the government.

He said the Nigerian Sovereign Wealth Fund Authorities had signed an agreement to co-invest in the project.

Anyim described the project as revolutionary, visionary and transformational.

The Abuja Centenary City when if completed, will be the second-largest private city development in history, and signals a new national economic awakening.

The City will incorporate a free trade zone, duty free regime, tax holidays and non-regulated banking services in an effort to boost trade and investment in Nigeria.