News
FEC okays resumption of FCT land swap plan
The Federal Executive Council (FEC) has approved the resumption of the Federal Capital Development Authority (FCDA) land swap plan.
Minister of the Federal Capital Territory (FCT), Mohammed Bello, disclosed this to State House Correspondents at the end of the week’s virtual Council meeting, presided over by President Muhammadu Buhari on Wednesday at the Presidential Villa, Abuja.
The initiative, which was put at about N1 trillion under the previous dispensation, was designed to remedy the infrastructure deficit in the federal capital by swapping land with private investors who would in turn provide necessary infrastructure.
The minister said FEC approved the resumption following a memo he presented to the council.
He said some amendments were made to the original form of the initiative by establishing a legal framework to protect all parties.
-
Latest1 week agoHigh Court opens hearing on Goodluck Jonathan’s 2027 presidential eligibility
-
Business2 days agoAnger, debate trail proposed $1.25bn loan amid concerns over Nigeria’s debt surge
-
Featured2 days agoWike dismisses political speculation over meeting with APC Chairman Yilwatda
-
Latest4 days agoWike loyalists dominate As APC clears 33 aspirants for Rivers Assembly primaries, 65 disqualified
-
Latest22 hours agoMakinde declares 2027 presidential bid under PDP–APM alliance
-
Business2 days agoNigeria’s 2026 debt servicing hits $11.6bn as Tinubu decries global financial inequity
-
Latest6 days agoNigerian Senate reverses standing orders amendment over constitutional concerns
-
Featured1 day agoObasanjo faults Tinubu’s economic reforms, calls them necessary but poorly designed