President Jonathan unveils Abuja centenary city

President Goodluck Jonathan today performed the ground-breaking and unveiling of the Abuja Centenary City Project. The project, which is located along the Airport road, will cost N2.976tr ($18.6 billion).

The city which will be sited on 1,200 hectares of land will be built by a Dubai firm, Eagles Hills Properties at no cost to the government. The Nigerian Sovereign Wealth Fund Authorities will however be co-investing in the project.

Twenty percent of the plots will be for residential purposes, while the remainder will serve commercial and mixed use purposes.

The sum of 1.2 billion Naira, being 100 percent compensation has been paid for economic trees, to the original inhabitants.

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