The minister of the Federal Capital Territory (FCT), Senator Bala Mohammed said that mass housing development in the FCT would no longer be an all-comers affair, as only genuine investors with proof of genuine capacity to finance and develop such projects would be considered for plot allotment for the projects.
Senator Mohammed stated this while receiving members of the Osike Synergy Group from the United Kingdom in his office in Abuja.
The minister said, “Henceforth, mass housing plots will only be allocated to those with capacity to develop to them.”
He lamented that despite the good intentions of the government in initiating the mass housing programme, it had been plagued with irregularities.
“We have a responsibility of protecting our common wealth which is land by not allowing it to drift into the hands of few and unserious developers who do not have the interest of the nation at heart,” he said.
According to the minister, henceforth, approval for mass housing plots would only be given to genuine investors after due diligent had been carried out on their companies and that the administration will also demand for business plans as well as equity shares of such companies to disallow instances where large chunk of land in the nation’s capital fall in to the hands of unserious developers or speculators.
Senator Mohammed further urged the investors to also look into the transportation sub-sector of the FCT and noted that the sector was a goldmine.
He called on them to come up with detailed proposals on the areas they may wish to invest in, in Abuja to enable the technical personnel of the FCT administration work on it.
Speaking earlier, the leader of delegation of the Osike Synergy Group, Christian Udechukwu said they were in Nigeria as a result of the recent visit of the Lord Mayor of London, to look at areas of investment which include mass housing and hotels.