FG Seeks More Investors for $18.5 Billion Centenary City Project in Abuja
Abuja, Nigeria – February 18, 2025: The Federal Government of Nigeria has intensified efforts to attract more investors to the ambitious $18.5 billion Centenary City project in Abuja. This initiative aims to transform the nation’s capital into a world-class urban hub with cutting-edge infrastructure, smart city technologies, and state-of-the-art residential and commercial spaces.
During a recent stakeholders’ meeting in Abuja, Minister of Industry, Trade, and Investment, Dr. Doris Uzoka-Anite, emphasized the importance of foreign and local investments in driving the success of the project. She noted that the Centenary City is a key component of Nigeria’s economic diversification agenda and is designed to attract international businesses, stimulate job creation, and boost real estate development.
“We are committed to making the Centenary City a flagship project that symbolizes Nigeria’s progress and resilience. We call on investors worldwide to explore the vast opportunities available within this smart city development,” the minister stated.
The Centenary City project, initiated in 2014 to commemorate Nigeria’s 100 years of existence, is modeled after cities like Dubai, Singapore, and Monaco. It is planned to feature luxury residential apartments, high-end retail outlets, a central business district, hospitality hubs, and green spaces.
Investors are being offered various incentives, including tax holidays, duty-free importation of construction materials, and streamlined business registration processes. The Nigerian government has reassured potential stakeholders of a transparent and investor-friendly environment, ensuring security and ease of doing business within the special economic zone.
Analysts believe that the successful completion of the project will not only enhance Abuja’s status as a leading investment destination in Africa but also significantly contribute to the nation’s GDP.
Interested investors and stakeholders are encouraged to engage with the Nigerian Investment Promotion Commission (NIPC) and relevant authorities for more details on available opportunities within the Centenary City project.
