The Federal Capital Territory (FCT) land swap scheme is an initiative of the minister of the Federal Capital Territory, Senator Bala Mohammed. The scheme offers investors land in Abuja at no cost, as long as the investors undertake to execute infrastructure projects on the land.
13 companies have received approval to participate
in the project. The companies are Dangote Group, Gilmor
Engineering, China Railway Construction Company Limited, First Aries
Crude Oil Limited, System Properties Development Consortium Limited,
Adkan Services Limited, Edimo Group, Ridley Group, Afri-International
Projects & Consulting Limited, Hongye Group, Rosehill Group, Nimec
Investment Company Limited and Balmus International Limited.
condition for moving ahead wit the project, the selected companies are
expected to open
and finance a project fund account with a commitment
fee of N350 million.
Also required from the shortlisted companies
are business plans, preliminary design, detailed engineering design,
survey plan, feasibility studies and preparation of agreement.