Minister of the Federal Capital Territory Administration, FCTA, Senator Bala Mohammed, yesterday, disclosed that a total sum of N288 billion has been spent on the rehabilitation and expansion of the Umaru Musa Yar’Adua (Airport Road) and Murtala Muhammed (Kubwa Road) Expressways.
According to him, the projects have so far been funded through a bond floated by the Debt Management Office (DMO) to showcase what he described as the Transformation Agenda of President Goodluck Jonathan.
Speaking, yesterday, while addressing delegates to the 3rd Capital Market Committee Annual Retreat at the Transcorp Hilton Hotel, Abuja, the Minister said: “Other physical infrastructures that are either completed or at an advanced stage include B6 & B12 Circle Road; Complementary Engineering Infrastructure at the FCC stage II; Extension of Inner Southern Expressway (ISEX) from the Outer Southern Expressway (OSEX); Construction of Southern Parkway to Ring Road I; Construction of 33 KVA line, water line from Kukwaba Injection substation to Abuja Technology Village”.
On the water sector, the Minister further revealed that his Administration has completed Phases III and IV of the Water Treatment Plants that can simultaneously treat 20,000 cubic meters of water per hour at the Lower Usuma Dam with its access road, adding that the FCTA has signed a N19.438 billion agreement with SCC Nigeria Limited for the construction of a new water scheme in Karshi Satellite town.
According to him, “Karshi Water Scheme is designed to have two dams, one low lift pumping station, raw water conveyance system, treatment plant, pumping station, rising main, and regulating reservoir with a capacity of 6,000 cubic meters”.
In the area of transportation, Senator Bala Mohammed disclosed that the fast track of the Abuja Light Project, 400 Abuja Taxis as well as 200 Large capacity buses were procured and put to use in the Federal Capital Territory.
He said, “we are facilitating partnership with Nigerian Banks to provide additional 1,000 taxis and 400 high capacity buses to reduce commuters’ travel time by the middle of 2014.”
Senator Mohammed emphasized that the engagement of 15 investors participating in the Abuja Land Swap Initiative have completed the survey plans, detailed land use plans and engineering designs at no cost to the FCT Administration; thereby saving the government over N4 billion and created huge investment opportunities for the private sector to the tune of N600 billion.
The Minister appreciated the management of the Security and Exchange Commission for organizing this forum in Abuja; noting that Capital Market has remained a veritable engine of growth in the economy of any nation.
Speaking earlier, the Director-General, Security and Exchange Commission Ms. Oruma Oteh thanked the Minister for sponsoring the Annual Retreat and commended him for all the developmental strides achieved so far. [Vanguard]