Olawale Ajimotokan in Abuja
The Federal Capital Territory Administration (FCTA) is in search of to entice roughly $1.5 billion in inexperienced funding to remodel Abuja’s power and transportation sectors as a part of efforts to deal with infrastructure deficits, enhance public mobility and promote sustainable city improvement.
The funding drive gained momentum Thursday, November 5, 2026, when the FCTA disclosed that it had obtained two main private-sector proposals focusing on sustainable e-mobility and waste administration within the Territory.
The proposals had been unveiled on the FCT Post-COP30 Investment Roundtable in Abuja, themed “Mobilizing Investment for Green Infrastructure and Sustainable E-Mobility in the FCT.”
Speaking on behalf of the FCT Minister, Nyesom Wike, the Acting Head of Service, Mrs. Nancy Sabanti Nathan, stated the administration was exploring revolutionary financing and private-sector partnerships to deal with the rising infrastructure calls for arising from Abuja’s fast city enlargement.
She disclosed that the biggest proposal, valued at roughly $1.5 billion, was submitted by Magnifique Integrated Concept Limited and its consortium companions to develop an built-in e-mobility and supporting power infrastructure system throughout the FCT.
The proposed funding is predicted to cowl electrical mass transit fleets, cleaner automobile applied sciences, charging infrastructure, supporting power methods and digital transport companies.
She famous that the rising inhabitants of the nation’s capital had positioned vital stress on present infrastructure, making investments in cleaner power, environment friendly transportation and climate-resilient infrastructure more and more mandatory.
She additionally disclosed {that a} second funding proposal had been obtained from Hallmark Technologies and General Services Limited, specializing in changing municipal waste into financial belongings by complete waste-to-wealth methods.
According to her, the proposed waste administration initiative would promote useful resource restoration and produce biocompost to help agricultural productiveness in farming communities inside and across the FCT.
Earlier, the Chairman of the FCT Green Bond Committee and Permanent Secretary, Treasury and Budget Department, Adamu Ibrahim Wanki, stated the funding roundtable was convened to construct on the momentum generated by the FCT’s participation at COP30 in Belém, Brazil.
He defined that the committee was working to translate expressions of curiosity secured on the local weather summit into concrete, investment-ready initiatives able to attracting financing.
In a goodwill message delivered on behalf of the Director-General of the National Council on Climate Change (NCCC), the Head of Climate Finance, Ms. Benny Ejiofor, stated Nigeria’s third Nationally Determined Contributions (NDC 3.0) had established a nationwide local weather financing goal of $337 billion between 2026 and 2035.
