‘$18.5 b Centenary City Project to create 250,000 jobs’


CITING skill acquisition, job creation and economic development, President Muhammadu Buhari has backed the $18.5 billion Centenary City Project.

Recently, Buhari summoned the Governing Board of the Project, chaired by the former Head of State, Gen. Abdulsalami Abubakar and his members to offer explanations on the controversy surrounding project.

However, a statement by the Senior Special Assistant to the President on Media and Publicity, Garba Shehu, explained that the President welcomed an assurance from Centenary City Plc that all the original inhabitants of the site have been fully compensated.

Shehu explained that after being briefed by the Chairman of the company’s board of directors, Abubakar and members of its management team, Buhari praised the Centenary City’s main development partners from the United Arab Emirates for having enough confidence in Nigeria to agree to invest about $18.5 billion in the project.

The statement explained that the  President also welcomed the assertion by Abubakar and his team that the project will create about 250,000 more direct jobs in the Federal Capital Territory and about half a million indirect jobs.


He said that he looked forward to regular updates on the Centenary City’s development.

Vice President Yemi Osinbajo, who was also present at the briefing, was quoted as saying the  issue of the rights of the original inhabitants of the site acquired for the Centenary City had been of concern to the present administration.

*Contact Editor through Citybusinessnews@yahoo.com