The project is to gulp $18 billion and is to be completed in 10 years.
President Goodluck Jonathan has performed the ground breaking ceremony of the centenary city in Abuja.
The city, as disclosed by the Chief Executive Officer, CEO, of Eagle Hills, the official developer of the city, Mohammed Al-Abbar, will gulp a total of $18 billion (N2.8 trillion) and is expected to be completed within 10 years.
Mr. Al-Abbar who described Nigeria as a nation of tomorrow, said putting together the centenary city is coming at the right time and at the right place.
Explaining the conceptualization of the project, Mr. Al-Abbar said that education and healthcare will be the corner stone of the project.
According to him, the city which has a 1.3 million hectares expanse of land will be technology driven, with 50 per cent as green area, a golf course, amusement park, shopping malls which will be a blend of tradition malls with e-commerce amongst others.
He added that the total population of the city’s occupants would be 100,000 while 500,000 people will be expected to visit the place daily.
In his speech shortly before performing the ground breaking, Mr. Jonathan said the city will be a secure free trade zone. He said the centenary city will totally remain a business venture which will be managed by the private sector.
Describing it as “a city of hope and elegance” as well as “a symbol of our unity,” President Jonathan said there was no greater show of resolve by Nigeria to preserve its legacies.
A former Head of State, Abdusalami Abubakar, in his speech noted that the Centenary City Project will create 69,000 well paying jobs and over 250,000 construction jobs.
He added that compensation for the indigenes of the area was still ongoing. He invited Nigerians to join hands to make this dream a reality by individually ensuring that there is peace.
The Minister of the Federal Capital Territory, FCT, Bala Mohammed, noted that Nigeria can no longer depend on budgetary allocations.
He disclosed that the FCT will have a 5 per cent equity share in the Centenary city which is capable of making Abuja amongst the 20 top cities of the world.
The Secretary to the Government of the Federation, Pius Anyim, noted that the city is to create an economic zone that will create thousands of jobs for Nigerians
The ceremony was witnessed by the private sector, governors, and traditional rulers from the community housing the centenary city.
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