By Henry Umoru
ABUJA- MINISTER of the Federal Capital Territory Administration, FCTA, Senator Bala  Mohammed disclosed yesterday that  15 investors will spexpelled over $2.8 billion (about N560 billion) to provide the needed engineering infrastructure for the Abuja Land Swap Initiative for the districts.

He said that the 15 investors would spend over N64 billion on resettlement and compensation challenges, which include their infrastructure, housing and compensation.

Speaking yesterday in Abuja, Senator Bala  Mohammed who noted that the flag off will take place in Waru District, along Apo Mechanic Village road, Abuja, tomorrow, noted that President Goodluck Jonathan would perform the ground breaking of the Abuja Land Swap Initiative.

The Minister who noted that the flag off would formally enable the investors to simultaneously and fully commence the provision of engineering infrastructure in the nine brand new districts in the Federal Capital City (FCC), said, “These nine districts of the Abuja Land Swap Districts include Ketti North, Sheretti, Ketti, Sheretti Chechi, Waru Kpozaima, Burum, Burum West, Ketti East and Gwagwa.”

According to Senator Mohammed,  the groundbreaking ceremony for the provision of engineering infrastructure in these districts of Phase IV (South) within the FCC was on the basis of the FCT initiative of leveraging on its land resource for infrastructure provision, designed to  channel funds in possession of the government into other social services like education, health and environment.

The Minister who reiterated that the flagging off was meant to also jump start development in those areas to bid farewell to the menace of land speculation, freezing and racketeering in the Federal Capital Territory, stressed that the Land Swap has been strategically planned to key into the Transformation Agenda of the Federal Government.

He said, “We estimate that this initiative will provide additional housing for more than 1,000,000 residents which will further reduce the housing deficit by about 35% in the next 5 years as well as put more money in the hands of FCT Administration for human development activity, particularly in the areas of health and education.

“Thistransformative initiative will further provide more than 1,000,000 skilled and unskilled employment to the residents of the Federal Capital Territory in particular and Nigeria in general.”