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FCT Approves Resumption Of FCT N1trn Land Swap Programme

FCT Approves Resumption Of FCT N1trn Land Swap Programme

The Federal Capital Development Authority’s (FCDA) N1 trillion land swap programme has resumed after the Federal Government granted its approval at the weekly Federal Executive Council (FEC), which held on Wednesday, at the State House, Abuja.

The Minister of the Federal Capital Territory (FCT), Mohammed Bello, announced this after proceedings at the council meeting which was headed by President Muhammadu Buhari.

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The initiative was conceived to address the infrastructure gap in the FCT by swapping land with private investors who would in turn offer necessary infrastructure.

The FCT Minister said the FEC granted approval for the resumption following a memo he presented to the council.

According to him, some amendments were made to the original form of the initiative by establishing a legal framework to protect all parties.

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Victor Okeh is a graduate of Economics from Lagos State University. He is versatile in reporting business and economy, politics and finance, and entrepreneurship articles. He can be reached via – [email protected]

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