The FCT Administration has restated its commitment to open 10 new districts with modern basic infrastructure by 2015.<\/p>\n
This is contained in a news release by Muhammad Sule, Chief Press Secretary to the FCT Minister, on Thursday in Abuja.<\/p>\n
The minister noted that the aggregate infrastructure development in the FCT since its inception, was not more than 25 per cent.<\/p>\n
It said that the minister expressed regret that more than 90 per cent of allocated plots in the Phase I to Phase V of the federal capital city had yet to be developed by the allottees.<\/p>\n
Consequently, he said the FCTA had adopted a “radical” approach for the provision of infrastructure and general development of the city.<\/p>\n
“So we came up with the Land Swap Model which means the private sector will provide infrastructure in exchange for land.<\/p>\n
“We will provide at least 10 new districts by 2015 as the FCT Administration will grant land in a Greenfield District to developers for real property development. \u2019\u2019<\/p>\n
It said that the minister emphasised that in exchange for the grant, the developer would be required to provide primary infrastructure without any financial, technical or demand risk on the part of the FCT Administration.<\/p>\n
The statement added that the Land Swap Model would lead to an expansion of the city and eventually lower the cost of housing. (NAN)<\/p>\n","protected":false},"excerpt":{"rendered":"
The FCT Administration has restated its commitment to open 10 new districts with modern basic infrastructure by 2015. This is contained in a news release by Muhammad Sule, Chief Press…<\/p>\n","protected":false},"author":1,"featured_media":6033,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_lmt_disableupdate":"","_lmt_disable":"","footnotes":""},"categories":[5],"tags":[],"class_list":["post-6032","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news"],"yoast_head":"\n