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Brazilian investors boost FCT’s $1trn FDI drive

By on June 3, 2013

Federal Capital Territory Administration (FCTA) to attract over $1 trillion worth of foreign direct investment (FDI) gained a boost as notable Brazilians investors have expressed interest in developing mono rail transport system, world class hospital, industrial park, as well as standard university.

The consortium which comprise of 50 investors at a dinner organized by Bala Mohammed, FCT minister also expressed interest in building a model satellite city in the nation’s capital city under the Land Swap programme aimed at fast-tracking infrastructure and housing development.

Sequel to the engagement, the Brazilian investors are expected to sign a memorandum of understanding (MoU) with the FCT Administration with the view to define the legal and physical framework for the collaboration.

Mohammed told the Brazilians about Abuja’s strategic location as a territory that can be accessed from any part of the country by flight in less than one hour and from any part of the African continent in less than seven hours. Abuja’s unique position as the foremost regional, continental and global conference centre in Africa was also highlighted by the Minister during the presentation.

Earlier, the leader of the Brazilian delegation and the Secretary of Agriculture in the Brazilian state of Grande Do Sul, Rio Fernando Malwardi had stated that they were in Abuja to explore greater bilateral collaboration with Brasilia the capital of Brazil and Grande Do Sul on one hand and Abuja on the other.

He hailed the FCT Administration for the various measures put in place to accelerate development of the capital city in line with best global standards adding that he has no doubt that within the next couple of years, Abuja would rank among the best cities in the world. He said they were delighted to learn that the Abuja master plan envisages the development of the city in a similar manner as Brasilia the capital city of Brazil. He described Nigeria as an important trading partner of Brazil

In his remark, the Nigerian Ambassador to Brazil, Ambassador Vincent Okoedion said Nigeria would benefit immensely from closer bilateral relations with Brazil. He said that Brazil recently displaced Great Britain as the sixth strongest economy in the world.