FG Seeks Investors For $18.5bn Centenary City Project In Abuja

The federal government has renewed calls for investors to explore opportunities in the $18.5 billion Centenary City project in Abuja.

Honourable Minister of Housing and Urban Development, Arc. Ahmed Musa Dangiwa, made the appeal while receiving a delegation from Centenary City Plc, led by its Vice Chairman and former Secretary to the Government of the Federation, Senator Pius Anyim.

The Centenary City project was initiated in 2014 during former President Goodluck Jonathan’s administration as a legacy project to commemorate Nigeria’s 100th anniversary. Conceived as a master-planned smart city, it was designed to attract global investment and position Nigeria as a business hub. However, years of stalled progress prompted the Senate in 2024 to establish a seven-member ad-hoc committee to investigate the project’s delays.

Arc. Dangiwa emphasised that the project aligns with President Bola Tinubu’s Renewed Hope City agenda, which promotes inclusive urban development with facilities such as sports and medical tourism. He stressed the need for Public-Private Partnerships (PPPs) to address Nigeria’s housing deficit and create employment opportunities through the ongoing development.

He revealed that the Ministry had received expressions of interest from potential investors and stated that more would be invited to explore opportunities within the Centenary City project. He reaffirmed the government’s commitment to providing affordable housing while fostering an environment where private-sector investments can thrive. To accelerate progress, he directed the Ministry’s PPP department to collaborate with Centenary City Plc and engage with the Infrastructure Concession Regulatory Commission (ICRC) for partnership opportunities.

Senator Anyim, in his remarks, called for the Ministry’s support in realising the Centenary City vision. He urged the government to assist in securing funding that would enable cooperative societies and individuals to acquire homes within the development.

The Centenary City project is being developed as a joint venture between Front Range Developers of the United Arab Emirates (UAE) and Centenary City Plc. The initiative initially gained support from former President Muhammadu Buhari, who commended the UAE-based investors for committing $18.5 billion to the project. However, allegations of underhand dealings in the early stages hampered progress, contributing to the delays in its completion.