FCT N1trn land swap initiative with investors to resume — FEC

Land-swapping initiative with private investors who will in turn provide necessary infrastructure is to be reinstated by the Federal Goverment in the Federal Capital Territory (FCT).

The initiative worth N1 trillion which began in the administration of immediate past President Goodluck Jonathan, was designed to address the infrastructure deficit in the FCT.

The Federal Executive Council (FEC) gave the approval at its meeting on Wednesday at the Presidential Villa.

The Minister of the Federal Capital Territory (FCT), Mohammed Bello,
said the approval followed a memo he presented to FEC.

He said some amendments had been to the original initiative through the introduction of a legal framework to protect all parties.

…Details shortly