The Federal Government through the Federal Ministry of Innovation, Science and Technology has signed a Memorandum of Understanding (MOU) with Domineum/ Edenbase UK for the development of Abuja Tech City.
The Minister of Innovation, Science and Technology, Uche Nnaji, signed the agreement on behalf of the government in Abuja on Tuesday.
On Nigeria’s readiness for the collaboration, the Minister said the signing of the MoU laid the foundation for the participation of a key player in the Tech City project by establishing the general framework that facilitates collaboration and cooperation for technology transfer between the two UK consortium and federal government.
Against the backdrop of the over 61 billion pounds the company made in its fifth year of operation of the London Tech City, Nnaji also expressed the optimism that Nigeria would recreate such huge successes from the developer of the London Technology City,
Free Trade Zone
While noting that Tech Cities are the catalysts for rapid industrialization and enhancement of operational synergy within critical sectors, the Minister in a post on X announcing the MOU said the Abuja Tech City will be a Free Trade Zone.
- “It will be a full-blown smart and green city, complete with tech-driven startups, industries, entertainment, schools, parks, and home to the Ministry of Innovation, Science and Technology’s Agenda 8 and 9, which include the Clean Tech Program and the Green Manufacturing Initiatives.
- “The Abuja Tech City Ecosystem will be developed by the same consortia that did the London Tech City, which has gone on to become the second most valuable Tech Ecosystem on earth after Silicon Valley. So join us on this journey of progress,” the Minister stated.
What you should know
Originally conceptualized as Abuja Tech Village (ATV) under the administration of former President Olusegun Obasanjo, the Minister of Innovation, Science, and Technology, alongside the Minister of the Federal Capital Territory (FCT), Nyesom Wike recently announced significant plans for the project.
During a visit to the site located in Pyakassa, they unveiled an ambitious vision: to transform the area into a world-class technology hub, akin to the Technology City of London and Silicon Valley.
The spotlight on this project intensified as squatters were directed to vacate the premises, marking the beginning of a transformative journey for the region.
The directive for illegal occupants to leave the Abuja Technology Village underscores a critical step towards realizing the project’s potential.
The Minister of FCT emphasized that the indigenous community had been compensated since 2015, and it was time for the management to take full possession of the land.