By Eunice Orike
The Federal Capital Territory Administration (FCTA) has received a $1.5 billion investment proposal from Magnifique Integrated Concept Limited and its consortium partners to establish an electric mass transit system and supporting energy infrastructure across the Federal Capital Territory.
The proposal was presented during the FCT Post-COP30 Investment Roundtable in Abuja, themed “Mobilising Investment for Green Infrastructure and Sustainable E-Mobility in the FCT”.
Representing FCT Minister Nyesom Wike, the Acting Head of Service, Nancy Sabanti Nathan, explained that the $1.5 billion e-mobility venture would deploy electric mass transit fleets, cleaner vehicle technologies, charging stations, energy systems, and digital transport services. The deployment will combine compressed natural gas (CNG) and electric buses to ease peak-period congestion while integrating smart tracking systems to curb transport-related crime.
In addition, Hallmark Technologies and General Services Limited submitted a separate proposal focused on converting urban waste into biocompost and other resources to boost regional agricultural productivity.
Nathan noted that Abuja’s population growth has strained existing infrastructure, creating an urgent need for sustainable transport and energy solutions. She added that the FCTA plans to showcase these green investment opportunities at a side event during the upcoming COP31 summit.
All proposals will undergo technical, financial, and regulatory assessments by the Economic Planning, Revenue Generation, and Public-Private Partnership Secretariat prior to implementation.
Earlier, the Chairman of the FCT Green Bond Committee and Permanent Secretary of Treasury and Budget, Adamu Ibrahim Wanki, noted that the roundtable aimed to translate investment discussions from COP30 into bankable projects. Delivering a goodwill message on behalf of the National Council on Climate Change (NCCC), Head of Climate Finance Ms. Benny Ejiofor highlighted Nigeria’s NDC 3.0 target of $337 billion in climate financing between 2026 and 2035, pledging NCCC support through blended finance and green bonds.
