Delta State government has said the move to develop the Asaba Waterfront was geared towards effective urban renewal and boosting the state’s tourism potential.
The secretary to the state government (SSG), Dr Kingsley Emu, disclosed this after a meeting with representatives of the host communities of the Asaba Waterfront Development Project (AWCP) and the project consultants.
Briefing journalists after the meeting, Dr Emu said the AWCP, which was initiated three years ago and located along the banks of the River Niger, was designed to be Africa’s newest upscale, smart and tech-driven city.
He said the project is a Public-Private-Partnership (PPP) venture, between Delta State Government, which owns 15 per cent, Asaba communities which have five per cent and private investors, who hold 80 per cent, adding that the project is to be financed through a combination of equity and debt capital, in addition to pre-sales financing.
“About three years ago, we started this journey of Asaba Waterfront Development Project. We acquired about a 1,000-hectare of land and they were broken up into two: one was given to North China and another section was given to Falkland.
“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 slums 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.
“And with the dredging of the River Niger, which is just along the shore line, it would be a massive tourist attraction. So, that is the short story about Asaba Waterfront City,” the SSG added.
