The Senate Committee on the Federal Capital Territory, FCT, has said that the Centenary City project conceived in 2014 by the administration of former President Goodluck Jonathan, will stimulate $18billion foreign and domestic investment and also create 250,000 jobs.
The project has been bogged down by allegations and counter-allegations of non-adherence to due process in the allocation of 1,264.78 hectares to the developer of the Centenary City project, Centenary City Plc.
Following the uproar, the Committee on FCT, convened a public hearing where the various parties involved, including the FCT Administration and developer, testified.
In its final report, the Committee, which probed the legality or otherwise of the project, said due process was followed in the allocation of land for the project as well as other sundry issues.
The report, which was signed by the Committee’s Chairman, Senator Dino Melaye (APC, Kogi West), indicated there had been a lot of misinformation, misunderstanding and misconception about the project.
“There is no gain saying the economic benefits are huge, the social benefits immeasurable, and the political benefits cannot be imagined.
“We make bold to say that agencies of government should endeavor to come to terms with the fact that governments do not ‘supervise’ private sector projects; government only regulates them. To discourage a project of this nature for any reason is a great disservice to the nation”, a part of the report said.