NIPC TO PARTNER WITH RIVERS STATE FOR THE DEVELOPMENT OF A NEW PORTHACOURT MEGA CITY

The Nigerian Investment Promotion Commission (NIPC) has promised to partner with the Rivers State Government to develop and build a new mega city known as “Greater Port Harcourt City”.

About 3000 housing units are expected to be built in the Phase 1A of the “Greater Port Harcourt City” which has an estimated cost of N320 billion in the bulk infrastructural development. The bulk infrastructural development is expected to be released to the general public and investors by June 2012.

The Executive Secretary of the Nigerian Investment Promotion Commission, Engr. Mustafa Bello, made the promise through the Director, Finance and Administration, Alhaji Abubakar Hassan Sadiq on Thursday, November 25, 2010 when he received in audience the Management of Greater Port Harcourt City Development Authority (GHPCDA) led by the Administrator, Dame Aleruchi Cookey-Gam.

The Executive Secretary who lauded the initiative of the Rivers State Government over the project said “NIPC will do everything possible to ensure the realisation of the multi-billion naira project and ensure that relevant investors are facilitated to invest in it”.

Alhaji Sadiq who commended the multi-billion naira project said even though there are challenges, but they are not insurmountable, adding that, “NIPC as an institution vested with responsibility of promoting the abundant investment opportunities in Nigeria will strive to ensure that the project is well marketed at the various Business and Investment Forums (BIFs) across the world with a view to getting relevant investors”.

Earlier the Administrator of Greater Port Harcourt City Development Authority, Dame Aleruchi Cookey-Gam disclosed that the reason for the “New City” is to modernize the old city (Port Harcourt) and re-awaken it to its once thriving Garden City status, adding that “Port Harcourt is the treasure base of the nation and the fastest growing city in the Niger Delta and Nigeria; there is therefore a need to control its development”.

She solicited the assistance and collaboration of NIPC in the area of participation and exchange for Local and International road shows; access to database of prospective investors; setting up of One –Stop Investment Centre (OSIC); facilitation of pioneer status application for new business in Rivers State; facilitation of quota and immigration formality issues; promotion of the project and marketing it and capacity building for staff of her organisation.

 

Joel Attah