FEC Okays Resumption Of FCT Land Swap Plan

The Federal Executive Council (FEC) has approved the resumption
of the Federal Capital Development Authority (FCDA) land swap
plan.

Minister of the Federal Capital Territory (FCT), Mohammed Bello,
disclosed this to State House Correspondents at the end of the
week’s virtual Council meeting, presided over by President
Muhammadu Buhari on Wednesday at the Presidential Villa, Abuja.

The initiative, which worth was put at about N1 trillion under
the previous dispensation, was designed to remedy the
infrastructure deficit in the federal capital by swapping land with
private investors who would in turn provide necessary
infrastructure.

The minister said FEC approved the resumption following a memo
he presented to the council.

He said some amendments were made to the original form of the
initiative by establishing a legal framework to protect all
parties.

The Federal Executive Council (FEC) has approved the resumption
of the Federal Capital Development Authority (FCDA) land swap
plan.

Minister of the Federal Capital Territory (FCT), Mohammed Bello,
disclosed this to State House Correspondents at the end of the
week’s virtual Council meeting, presided over by President
Muhammadu Buhari on Wednesday at the Presidential Villa, Abuja.

The initiative, which worth was put at about N1 trillion under
the previous dispensation, was designed to remedy the
infrastructure deficit in the federal capital by swapping land with
private investors who would in turn provide necessary
infrastructure.

The minister said FEC approved the resumption following a memo
he presented to the council.

He said some amendments were made to the original form of the
initiative by establishing a legal framework to protect all
parties.