While giving a review of the agreement, Coordinator, Abuja Infrastructure Investment Centre, Farouk Sani said the agreement is a product of intense negotiation with the investors after the signing of the MoU with the FCT Administration in 2012.
He said the committee set up by the administration to oversee the contract had extensive discussion on financial aspect, engineering design, cost of resettlement and compensation, adding, “at the end of the day we also agreed on the sharing formula.”
He further said there is a clause for termination of the contract if the necessary structure for commencement of execution of the project is not put in place and to ensure it is delivered as scheduled.
In his remark earlier, the Executive Secretary, FCDA, Engr. Adamu Ismaila also noted that the journey which today culminated into signing of agreement started two years ago.
“It is an initiative to find other means of fast tracking infrastructure in the FCT in line with the Abuja Master plan,” he said.
On behalf of the other investors, the Chairman, Urban Shelter Infrastructure Limited, Musa Dangogo Aliyu called on the investors to be committed to the terms of the agreement as he prayed “God to give them the strength to deliver.”