FCT to Benefit from €350m EU Grant on Kugbo Market, Eco Villa Projects

Olawale Ajimotokan in Abuja

The Federal Capital Territory is a major beneficiary of some of key projects which the European Union (EU) is financing in Nigeria in collaboration with the federal government via a €350 million grant provided by the EU to African countries under the Cotonou Agreement.

Some of the projects include the Kugbo International Market, Kafe District Market and Ecoville Apartment in Daki Biu.

Abuja Investment Company Limited (AICL) is coordinating the projects.

Officers of AICL and Italian partners from DGM have assessed progress of work at of some of the projects, including Kugbo International Market, built on 13 hectares of land by Mesotho Group Limited (MSG) along the Abuja- Keffi Road.

The developer of Kugbo International Market, Jerry Joseph Damara described the project due to be completed next year as the biggest market in West Africa.

The Country Representative of DGM, Mr Patrick Coker, said the market will be transformed into a green project that will use renewable energy, solar, wind and water. He said all the wastes in the market will be recycled and turned into re-useable energy.

The Chairman of AICL Board Committee on Investments, Hon Osita Opara, said they opted to visit with the Italian partners led by President of DGM, Cladio Dell Ghanda and a Director of the company, Marco Costa to have first-hand assessment of the projects in some of Abuja metropolis.

He said the projects will have several advantages, including job creation for the people.

He described the investment by the foreign partners as enormous, saying government alone cannot use the budget model alone to fund projects in the Federal Capital Territory.

“They are on a two-prong visit. One, they are bringing a grant of Euro 350 million to build a modern Green City where everything works to world class standard. It is a EU grant meant for African nations developing infrastructure for them. They are also investors, coming to invest, not only in market alone but in projects like highways, railways, roads, hospital and anything that will develop Abuja. They are liaising with the Abuja Investment Company Limited which is the commercial investment arm of the FCT,” Opara said.

Ghanda, who has also visited other African countries, expressed delight visiting Nigeria. He described Nigeria as a big door in front of big development for the people and the best future for the job for the company.