Thursday, 20 February 2014

FCTA-Brazilian Partnership to Yield $3bn

The minister of the Federal Capital Territory (FCT), Senator Bala Mohammed, has said the partnership between the FCT administration and Brazilian investors is expected to yield about $3 billion when fully implemented.

The minister made the disclosure when he received a delegation of Brazilian investors, led by the former Ambassador of Nigeria to Brazil, Mr. Vincent Okoedion, in his office recently.

The minister further disclosed that the delegation had indicated interest to partner with the administration in the areas of housing and transport, and road development. He added that the administration will continue to provide an enabling environment for investors to thrive.

The director of Bitello Group, Frederico Joao Stella who was part of the delegation, commended the minister for the opportunity to participate in the territory’s development. He said the company would build 1,000 houses in the FCT within a few months.

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