The Federal Government has mapped out plans to expand the scope of N401 billion Festival of Arts and Culture (Festac) Phase II developments to generate four million direct and indirect jobs.
According to the Managing Director, Federal Housing Authority (FHA), Prof. Mohammed Al-Amin, the authority was already talking to the concessionaires to expand the scope of the project to accommodate the National Housing Programmes , Federal Housing Diaspora scheme and mass housing project.
Al-Amin said: “We will use the project as a springboard to drive the economy, jobs and wealth creations. We have computed to create over four million jobs directly and indirectly. Directly, 870,000 jobs will be created in the project and the remaining 3. 2 million will be indirect jobs.” – New Telegraph
The renewed hope in the project is being triggered by the latest court judgement in favour of the Federal Government and the concessionaire against Kuje/ Amuwo family who had earlier gone to court to stop the project.
The Federal Government had in 2015 concessioned the development of 1000-hectare’s FESTAC Phase II project to Messrs New FESTAC Phase 11 Development Company.
The company is to reclaim the land, fix the infrastructure and develop housing estates for sales to members of the public to recoup its investment.
The managing director of FHA described the latest judgement as a watershed in the drive for the betterment of Nigerian economy.
Explaining how to make the plan a reality, the managing director said the initial plan was to invite some foreign investors to bring in their capital and technology to develop FESTAC Phase 11 , but with the ongoing recession globally coupled with non-charlant attitude of some investors, the Federal Government had concluded arrangement with the concessionaires to extend FESTAC Phase 11 developments to incorporate indigenous companies.
He said: “As I am talking to you here, part of the land has been earmarked for National Housing Programme 2016.
Part of it is going for National Housing Programme 2017. The second aspect the concessionaires will be coming in which is what we call National Mass Housing Project. This was an idea conceived by the Federal Housing Authority to decongest major cities in Nigeria.”
Al-Amin stated that the authority had put many things in place to ensure that FESTAC Phase 11 becomes a reality.
“We are no more looking at FESTAC Phase 11 to provide accommodation. We are using it as a spring-board upon which we drive the Nigerian economy using the housing and construction investments to provide jobs as well as to ensure that wealth is circulated by the project to our teeming unemployed youths,” he said.
On what becomes of FESTAC Phase 1, the FHA boss said the agency was already negotiating with a South African firm for the restoration/rehabilitation of the 27-year-old Central Sewage System of the foremost housing estate in Nigeria.
According to the Al-Amin, the federal authority has identified good consultants for the upgrade of facilities in FESTAC Town, starting with the estate’s damaged central sewage system.
The estate, which was the pride of the nation at its inception in 1977, is now a shadow of itself following enormous degradation of its infrastructure and living environment.
The managing director hinted that the consultants had put the cost of rehabilitation of the central sewage system at $54 million in order to avert looming epidemic in the residential estate.
According to him, the South African company would bring in finance and technology for the central sewage system’s reticulation, adding that the consultants with staff of FHA has taken tour of the facility and identified areas of serious intervention.