The Federal Executive Council has approved the resumption of the Federal Capital Development Authority land swap initiative.
The initiative which was launched under the previous administration and worth about N1 trillion, was primarily to fix the infrastructure deficit in the Federal Capital Territory by swapping land with private investors, who would, in turn, provide the necessary infrastructure.
The minister affirms that the council approved the resumption of the initiative following a memo he presented at the FEC meeting.
He says some amendments were made to the original form of the initiative by establishing a legal framework to protect all parties concerned.