The Minister for the Federal Capital Territory, ?Senator Bala Mohammed, has said that the federal government requires N145 Billion to ?relocate original settlers in the Capital city of Nigeria. ?
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While speaking with newsmen during the ongoing US-Nigeria Infrastructure Conference in Washington DC yesterday, Senator Bala said the fund was needed to defray the cost of entitlements payable to original settlers displaced by development projects in the territory.
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Speaking further, the FCT minister lamented that government’s efforts are sometimes frustrated when residents fail to adjust to reality when development projects spring up in their area, adding that government will continue to consult community leaders and interest groups so as to achieve adequate and fair resettlement of displaced FCT original settlers.
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In a seperate interview, the Nigeria’s Minister of Works, Mr. Mike Onolememen said that Nigeria would?be among the first 20 economies in the world with the current?level of infrastructures, adding that the federal government is ready to partner with genuine investors in critical?sectors of the economy.
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The minister for Works also told newsmen that the Vision?20:2020 and Transformation Agenda of President Goodluck Jonathan avails investors huge opportunities to invest in the?
country.
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His words: “A look at some of the statistics would indicate the inadequate of?infrastructure in Nigeria. In the road sector for example, Nigeria has?a total of about 200,000 km of road, out of which only 40,000 km are?paved. Comparing this figure to those of the United states of?America (6.5m km), India (4.1m km) China (3.8m km), Brazil (1.7m?km), and South Africa (362,099 km), enables better appreciation of?the enormity of the challenge.
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Also, Foreign Affairs Minister, Mr. Olugbenga Ashiru, while speaking to newsmen said that Nigeria’s transformation agenda under President Goodluck Jonathan’s leadership is focusing on the review of the nation’s foreign policy and using same to support the domestic policies of government. ?
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He said the shift was designed to strengthen economic relations with the international community as a foundation for domestic stability, development and growth. ?
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According to him, Nigeria’s foreign policy is now tied to Foreign Direct Investment with emphasis on job creation, poverty alleviation and economic well-being of the citizens. ?
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He added that under the new policy thrust, diplomatic missions had been directed to focus more on investment to support government’s domestic programs
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Meanwhile, the Honorable Minister for Mines, Steel and Solid Minerials, Arc Musa Sada, while addressing investors at the forum, said that Nigeria is endowed with variety of minerals found in more than 500 locations in the country.
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The Minister added that all the 36 States of the Federation and the FCT have more than one mineral type, stressing that development of mining is considered key to Government ?economic diversification policy.
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Arc Sada pressed further that several junior companies from Australia, UK, China, Canada, and others are currently involved in some exploration activities in Nigeria, noting that strong local investors that are willing to partner with foreign firms.
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Speaking further, he said that Itakpe iron ore deposit is ready for exploitation with a mine and processing ?plant in place once a few legal hurdles are cleared, stressing that several other iron ore occurrences located in the north western and north eastern areas of the country.
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