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The strides of the FCT Administration in creating enabling environment for Foreign Direct Investment (FDI) in Abuja was the toast of the event, when President Muhammadu Buhari declared open Novare Gateway Mall on the Abuja International Airport Expressway today, Thursday, 30 November 2017.

In an address presented on his behalf by the Minister of the Federal Capital Territory, Malam Muhammad Musa Bello, the President commended the Novare Real Estate Africa – the property developers, for the completion of the master piece in a prime location on the gateway of Nigeria’s capital City.

The President highlighted the thrust of his Change Agenda to include restoring security, fighting corruption and rebuilding the battered Nigerian economy. He announced the first two have largely been achieved while underscoring the investment of $68Million in the Novare Mall as an indication of growing investor confidence in Nigeria.

He reiterated the necessity for the investors to emphasise local contents in the goods they would be displaying on shelf in order to promote value chain on major Nigerian products like fruits and vegetables, which he said were organic and highly recommended.

The FCT Minister, on behalf of the President applauded the Novare Real Estate group for demonstrating faith in Nigeria last year, despite the gloomy outlook of the Nigerian economy. According to the Minister, the exit of the Nigeria from recession this year has vindicated the wisdom Novare Real Estate Africa.

He used the occasion to call on other investors who are still waiting on the wings to take advantage of the ripe investment climate in Abuja now, when the offer lasts.

Earlier in his address of welcome, Prof. Fabian Ajogwu, the Chairman Novare Real Estate Africa noted that the facility was completed on time, on budget and on scope. He commended the FCT Minister for his various urban regeneration plan that have improved the economic outlook of the FCT and for his proactive response to issues that were of great concern to investors thereby enhancing the ease of doing business in Abuja.

According to him, the Minister was prompt in granting consents for many of the development requirements, noting that the Novare Gateway Mall was deliberately strategically located on the near the airport to give business travellers the opportunity hangout, work, wine and dine while they waited for their first boarding announcements.  

He disclosed that among prominent tenants of the Mall were Shoprite, Genesis Cinema and many international retail outlets. He said the investment has created job for over 5000 workers and still counting.

Cosmas Uzodinma
Chief Press Secretary

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