Efforts are being geared by Delta State government towards revolutionising tourism and urban renewal by constructing a waterfront community with a six-lane road network in Asaba, the state capital.
The project was initiated three years ago by the immediate past governor, Dr Ifeanyi 0kowa and located on the banks of the River Niger, was designed to be Africa’s newest upscale, smart and tech-driven city.
Sitting on acquired 1,000 hectares of land, the project is a Public-Private Partnership (PPP) venture, between Delta State government, which owns 15 percent, Asaba communities which have five percent and private investors, who hold 80 percent as it is to be financed through a combination of equity and debt capital, in addition to pre-sales financing.
About N5 billion is being spent by the state government to construct the six-lane road that takes it straight to the shore of the River Niger.
The construction is divided into two, one given to North China and another section to Falkland firms.
Speaking shortly after a meeting with representatives of the host communities of the Asaba Waterfront Development Project and the Project Consultants recently, the Secretary to the State Government, Dr. Kingsley Emu, said: “The whole idea is a PPP. For me, the people wanted to, on their own, start giving out the land and they started going into private arrangements and agreements with some developers.
“We figured out that it was going to cause a lot of urban slum and create a lot of security issues for us, especially during the allocation. So, we sat down and decided that we should acquire that entire 1,000 hectares of land.
“In compliance with the Land Use Act, we allowed everybody who had interest in that area, published in critical newspapers, to come over and express their interest through a memorandum.
“We got a lot from different people and we sat back and identified all the communities involved. We moved in to call in consultants to come and look at the entire area and scoop for compensation and ensure that all the parties involved, remotely or otherwise, must be captured.”
“The compensation sum was determined. Shortly before then, was election and that was halted for this. But before then, in our process of engagement, we told the communities that there are three parties to the business.
“First are developers who are formidable and have a pedigree. They are to have 80 percent of the entire investment. Government was to have 15 percent and the community was to have five percent.”
Emu further said that the state government is making sacrifice to ensure the project came on stream to ensure real urban renewal in the area.
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