ABUJA, A Network Of Economic Upturn

FCT, A Network Of Economic Upturn.

THE BEST AND MOST BEAUTIFUL!

 

Have you thought about investing in a splendid and the Most Beautiful city in Nigeria?  Abuja is stunning beautiful, the city’s uniqueness is breathtaking. There are thousands of words I would love to qualify the beauty of Abuja with but time and space will not permit me.

When it comes to structure, Abuja is first in the list in Nigeria.  I call the city: “Washington D.C. in Nigeria”. The city is also the hot cake networking economic upturn in Nigeria. Join me to see reasons why you should think investment in Abuja.

ABOUT ABUJA

Abuja is both a Federal Capital Territory within the nation of Nigeria and a city within that territory which serves as the nation’s capital. Both were created in 1976, while the city was built throughout the 1980s. It officially became Nigeria’s capital on December 12, 1991, replacing the role of the previous capital, Lagos.

Abuja is the capital city of Nigeria located in the centre of the country within the Federal Capital Territory (FCT). It is a purposed planned city built mainly in the 1980s. Abuja’s geography is defined by Aso Rock, a 400-metre (1,300 ft) monolith left by water erosion. The Presidential Complex, National Assembly, Supreme Court and much of the city extend to the south of the rock. Zuma Rock, a 792-metre (2,598 ft) monolith, lies north of the city on the expressway to Kaduna.

Major religious sites include the Nigerian National Mosque and the Nigerian National Christian Centre. The city is served by the Nnamdi Azikiwe International Airport.

 

FEDERAL CAPITAL TERRITORY

The territory is north of the confluence of the Niger and Benue Rivers. Bordering the FCT are the states of Kaduna to the northeast, Plateau to the east and south, Kogi to the southwest, and Niger to the west and northwest. It is slightly west of the center of the country. Its area covers 2,824 square miles (7,315 square km).

Abuja has a cooler atmosphere. There are three seasons, including a warm, sticky rainy season, from April to October, and a strong dry season, when daytime temperatures can fly up as high as 40 degrees Celsius (104 degrees Fahrenheit). Between these seasons there is a brief interval of harmattan occasioned by the north-east trade wind, with dusty cloud, which increase coldness and dryness.

The high summit and wave terrain of the territory act as modest influence on the weather of the territory. Rainfall in the FCT reflects the territory’s location on the windward side of the Jos Plateau and the zone of rising air masses. The annual total rainfall is in the range of 43.3 inches (1100 mm) to 63 inches (1600 mm).

 

POPULATION GROWTH

Abuja’s 2019 population is now estimated at 3,095,118. In 1950, the population of Abuja was 18,977. The population increased by 653,427 since 2015, which represents a 6.11% annual change. These population estimates and projections come from the latest revision of the UN World Urbanization Prospects. These estimates represent the urban agglomeration of Abuja, which typically includes Abuja’s population in addition to adjacent suburban areas.

The last census taken in 2006 put the population at 776,298. However, between 2000 and 2010, the population grew by almost 140%, with more recent estimates showing that the population goes beyond 2.4 million but according to projection by, NBS, 2016-2021 the population will increase to 3,564,100.

 

ECONOMY GROWTH

NBS released the country’s GDP report for the third quarter with the economy recording a growth rate of 1.81 per cent year-on-year. The report posted on Monday shows that the growth rate of 1.81 per cent represents an increase when compared to the growth rate of 1.5 per cent which the economy recorded in the second quarter of this year.

In nominal terms, the report put the value of the country’s economic output during the period at N33.36trn. This, it stated, was higher when compared to the third quarter 2017 GDP output of N29.37trn. Part of the report stated that the nation’s Gross Domestic Product grew by 1.81 per cent year-on-year in real terms in the third quarter of 2018. “Compared to the third quarter of 2017 which recorded a growth of 1.17 per cent, there is an increase of 0.64 per cent points. “The second quarter of 2018 had a growth rate of 1.50 per cent showing a rise of 0.31 per cent points.”

 

INFRASTRUCTURE

Transportation, housing and other infrastructure in Abuja are one of the best in the West African region. Nigerian Government has a great plane regarding infrastructures development in Abuja.  About N70 billion budget on infrastructural development within the country’s capital city Abuja.

According to data provided by the NBS, Abuja has been placed as a leading destination for foreign direct investment in Nigeria, making it necessary for the N70bn sum for development. The moment this money is approved, Abuja will be a hub of investment.

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AIRPORT

Abuja has 1 international airport, it is the main airport serving the Nigerian capital city and was named after Nigeria’s first President, Nnamdi Azikiwe. The airport is approximately 20 kilometres (12 mi) west of Abuja, and has an international and a domestic terminal that share its single runway.

 

 

The new terminal

Abuja Airport’s new terminal is structured to process 15m passengers annually.  FAAN in 2018 broadcasted the good news about the terminal, saying that the newly completed terminal building at the Nnamdi  Azikiwa International Airport in Abuja will process 15 million passengers annually when it begins operations.

The terminal building was admitted to enhance the operational capacity of the airport. The inauguration of the airport was to ensure that passengers have enough space capacity of seating position in the Airport and the current carrying capacity of the airport was 7.5 million passengers per annum. This new terminal is made so that passengers would begin to enjoy comfort and efficient services, built and equipped with modern facilities such as modern check-in, baggage handling and security facilities.

In the old terminal, both domestic and international, Abuja is doing like 7.5 million passengers annually. But today the nation now have a terminal that can process 15 million passengers which is more encouraging and due to its capacity  it is described as a great departure from what it used to be. What I love so much about the new terminal is the fact that it is designed just for the comfort of the passengers. Most of the office work will still be running at the old terminal.

Report from NAN showed that the Abuja Airport is one of the four new terminals being constructed at the cost of $600 million by the China Civil Engineering and Construction Company (CCECC) under the Export-Import Bank of China loan. The others are in Lagos, Port Harcourt and Kano and are being financed from the $500 million loan from China-Exim bank and $100 million counterpart funding from the Federal Government.   Two (2) have been inaugurated by the president while the remaining two are expected to be opened for operations in 2019.

 

TOURIST ATTRACTIONS IN FCT ABUJA

• Millennium park
• National stadium
• Aso rock
• Zuma rock
• Zoological park
• Area1 parks and recreation

 

NATURAL RESOURCES:

Mineral raw materials

Abuja is great when it comes to natural resources, both in the area of mineral raw materials and agro raw materials. Hug investment opportunity in the area of Bauxite, Gold and Clay. Some Mineral raw materials include: Cassiterite, Clay, Dolomite, Gold, Lead/Zinc, Marble, Bauxite and Tantalite.

GOLD: Think of Gold as a hug economic upturn in Abuja. This is where the income lies. investment opportunity is a big one here because centuries ago when gold was discovered in Abuja, the people of the state has not done much about it and the Government has not utilize the opportunity.

Recently, some community men in Gwagwalada in Abuja discovered gold whereby manual digging is used to remove sand and rocks after which it is processed either manually or mechanically. As a business oriented person you can equally key into Bauxite and clay. There are many things that can be created with these mineral resources.

 

AGRICULTURE

The Agro raw materials include: Yam, Maize, Rice, Cassava, Millet, Guinea corn, Cowpea, Sorghum, and Sesame.

 

AREAS OF INVESTMENT OPPORTUNITIES FOR PROSPECTIVE INVESTORS ARE:

• Agribusiness
• Light Manufacturing
• Healthcare
• Tourism
• Energy
• Mining

 

The economic value of mineral resources found in Abuja is an exceptional one. Think Abuja as the final cross road for your great plan and be rest assured that your dream sector will never go-under. If you have interest in investing in any of the above listed feel free to ask Prince Joel and Associate.

For more information on Investment, Partnership, and Legal Due Diligence in Abuja and Nigeria at large, do not hesitate to contact us.

 

BUSINESS ADVISORY & INVESTMENT DEPT

5A Dozek Close,Off Alternative Route,Chevron Drive,

Lekki, Lagos State, Nigeria.

TEL: +2348034869295, +2348020550410

E-mail: info@princejoelandassociates.com

 

 

Our services include but not limited to: investments and consultancy; company formation; compliance and regulatory issues; tax advisory services; Capital importation and repatriation; Property Acquisition; and General Legal services.

Source: <punch>