THE Minister of Finance, Ngozi Okonjo-Iweala, is expected to visit China to finalise the Chinese Nexim Bank credit facility to complement financing of the Abuja light rail project.
Federal Capital Territory (FCT) minister, Senator Bala Mohammed, stated this while receiving the House of Representatives Committee on FCT in his office. The committee was led by its chairman, Mr Emmanuel Jime.
He disclosed that the conclusion of the loan-deal would go a long way to ensure speedy completion of the project.
The minister reaffirmed that the Federal Government was committed to accelerating the completion of the project in line with the transformation agenda of the President Goodluck Jonathan.
According to him, the project would afford the residents cheaper means of transportation and significantly reduce the traffic problems being experienced at peak hour in Abuja.
Senator Mohammed further disclosed that efforts were being geared towards the completion of the multimillion millennium towers.
He described the project as a condominium with facilities for recreation, conference, celebrations as well as social life.
The minister observed that the project was supposed to be public-private-partnership driven and disclosed that it would be handed over to the Federal Ministry of Culture and Tourism when completed.
He told the lawmakers that a new policy on district infrastructure was being considered to ensure that the partnership worked.
He said: “The new plan may allow the private investor provide infrastructure in a district and be paid with a portion of land in same district, thereby leaving the rest to be shared through the normal Land Use and Allocation Committee to deserving Nigerians."
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