FEC: FCT can resume N1tn land-for-infrastructure deal

The Federal Executive Council (FEC) has approved the continuation of the Federal Capital Development Authority (FCDA) land swap initiative worth N1tn.
The initiative under the previous dispensation was designed to remedy the infrastructure deficit in the federal capital by swapping land with private investors who would in turn provide necessary infrastructure.
Minister of the Federal Capital Territory (FCT), Mohammed Musa Bello, announced this on Wednesday at the end of the federal cabinet meeting presided over by President Muhammadu Buhari at the State House, Abuja.
The minister said FEC approved the resumption following a memo he presented to the council.
He said some amendments were made to the original form of the initiative by establishing a legal framework to protect all parties.