From Fred Itua, Abuja
Senate committee on the Federal Capital Territory (FCT) has revealed that the Centenary City project initiated in 2014 by the administration of President Goodluck Jonathan will stimulate $18 billion foreign and domestic investment and, also, create 250,000 jobs.
According to a report of the committee, which probed the legality or otherwise of the project and signed by its chairman, Dino Melaye, due process was followed in the allocation of land for the project, as well as other sundry issues.
There have been allegations and counter-allegations over claims that the allocation of the 1,264.78 hectares to the developer of the Centenary City project, Centenary City Plc, did not follow due process.
Following the uproar, the Committee on FCT, convened a public hearing where the various parties involved, including the FCT Administration and Centenary City Plc testified. The committee’s final report, a copy of which was obtained by Daily Sun, 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.
Rising unemployment increases risk of national security, says economist
By Chinenye Anuforo
The Federal Government has been urged to critically tackle unemployment as a way of managing national security.
Group Managing Director of TL First UK, Dr. Olu Olasode, who spoke in Abuja, expressed worry at the rate of unemployment in Nigeria.
He said it portends danger to the society unless government and policy-makers pay critical attention to unemployment and address it.
Olasode commended government on the systems that have been established to block leakages, the ongoing efficiency programme and introduction of reflationary stimulus.
He emphasised the need for a clear economic reform and integration of initiatives to boost employment and social well being of citizens.
“It is clear that no sustainable development is possible in a country threatened by internal insecurity, crisis and conflicts. Development, therefore, relies heavily on the state of a nation’s security. Given the significant role played by Nigeria in the West African region and Africa as a whole, we cannot allow room for disintegration. As such, it is imperative that a security framework, which integrates and emphasises security sector reform, economic diversification, food and environmental security, job creation and good governance, be advanced.”
He, however, emphasised the need for effective execution and sustained drive.
“The effects of the changes in Nigeria’s fiscal monetary policies, economic programmes, and reflationary activities will take some time to translate to outcomes.
“In the meantime, there need to be a clear and consistent framework for monitoring the President’s economic strategies and ensuring sustained desired outcomes.” Olasode noted that these are the challenges and areas leaders need to focus on so that the economic ‘roadmap’ is supported by effective delivery and monitoring strategies and suggested integration of policies, reforms and strategies in a more coordinated way to ensure delivery of appropriate outcomes.