Eko Atlantic City Project (Photo:najanation.com)

Eko Atlantic City Project (Photo:najanation.com)

President Goodluck Jonathan, the former President of the United State of America, Mr. Bill Clinton and the Lagos state Governor, Mr. Babatunde Fashola on Thursday threw their weight behind efforts to make Lagos a world tourist destination.

The eminent personalities who spoke at the dedication of the 5,000,000 square metres reclaimed land of the Eko Atlantic City said the city when completed will bring people all over the world to study the technology and pattern used in building a city of such caliber.

The reclaimed land was hitherto lost to the Atlantic Ocean in the last 100 years.

President Goodluck Jonathan in an address said the feat is a landmark event which Nigeria must embrace.

He disclosed plans by the federal government to set up the Nigeria Mortgage Finance Corporation (NMFC), with the World Bank providing a construction credit of $300 million.”

The corporation, Jonathan said, would help to provide finance for the housing and construction sector and would be private sector driven through a Public Private Partnership (PPP) arrangement.

Opening ceremony of the first phase of the Eko Atlantic City (Photo: http://news.naij.com)

Opening ceremony of the first phase of the Eko Atlantic City (Photo: http://news.naij.com)

The president observed that the housing sector all over the world creates employment for its citizens, adding that it is in this regard that the federal government has accorded the housing and urban development sector priority attention.

“Its huge potentials have been the engine of growth and sustainable development. To this end, the enabling framework for kick starting the privatisation of this sector is now being put in place. As part of the overall transformation agenda, this administration is committed to harnessing the potentials, organising the construction sector as an important growth area for the economy”.

Jonathan also emphasised that the housing and construction sector are important component in the country’s Gross Domestic Product. retreat is the need for a viable mortgage institution.

Also speaking, Clinton said, “I want to thank the government and the developer for building this city. They have reclaimed five million square metre of the land initially lost to the sea. That marks the beginning of this amazing wall, they have kept their commitment and it will work to improve the economy of Nigeria.”

Speaking earlier, Fashola assured that the state government will ensure that the ambitious and visionary project which is private sector driven is delivered in accordance to agreements and specifications reached by the stakeholders.

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