The continuation of the Federal Capital Development Authority Land Swap scheme, which started under former President Goodluck Jonathan’s administration, has been approved by the Federal Government.
This was disclosed by the minister of the Federal Capital Territory (FCT), Mohammed Bello at the end of the weekly federal executive council (FEC) meeting in Abuja, yesterday.
Recall that in 2015, the house of representatives committee on FCT had faulted the land swap programme, alleging that it is fraught with irregularities and a negation of the provisions of the original Abuja Master Plan.
The minister said FEC approved the resumption of the programme following a memo he presented to the council.
The initiative, whose 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 the necessary infrastructure.
The minister said the essence of the programme is to encourage the development of FCT according to the master plan in designated districts and then, of course, to also to resolve the issue of compensation and payments and relocation of people as the city grows, and then, of course, to reduce the overall housing deficit within the FCT.
He said some amendments were made to the original form of the initiative by establishing a legal framework to protect all parties.