FG okays Park and Pay in FCT
…Approves redevelopment of police quarters Ikeja
The on-street park and pay services in the Federal Capital Territory (FCT) has received the approval of the federal government to be deployed in some parts of the FCT with multiple operators/concessionaires to handle different zones.
Zone A (Wuse II and Utako) has NAJEC Limited as the concessionaire: The N475 million concession is for a 10-year period with expected revenue put at N11.875 billion.
Zone B (Maitama and Garki 1) has Messrs. Automaten Technik Bauman Nig. Ltd (ATB) as the concessionaire. It is a N433.3million concession for a 10-year term and an expected revenue of N15.05 billion.
For the Comprehensive Redevelopment of the Police Quarters in Ikeja, Lagos, the project will replace the existing dilapidated physical structures at the current site.
It will have ten blocks of flats each, comprising eight luxury three-bedroom flats, totaling Eighty units of luxury three-bedroom flats; 130 Units of four-bedroom terraced houses with one room boy’s quarters attached to each.
The police quarters will have a clubhouse/hall, children’s playground and recreational houses. It will come at a cost of N7.4 billion, a lease of 50 years and an expected revenue of N16.7 billion.
