The Federal Capital Territory Administration (FCTA) is projecting to generate N27 billion within 10 years from its recently reintroduced on-street parking policy popularly called “park and pay.”
The administration also announced that it was partnering with two concessionaires, NAJEC Limited and Automaten Technik Bauman Nig. Ltd (ATB), to undertake the park and pay policy in two zones in the FCT.
While NAJEC Limited will cover Zone A comprising Wuse II and Utako with expected revenue of N11.875 billion in a period of 10 years, Automaten Technik Bauman Nig. Ltd (ATB) will take Zone B, which includes Maitama and Garki, with expected revenue of N15.05 billion over the same period.
FCTA permanent secretary, Olusade Adesola, who signed the agreement on Saturday, said the move was to promote a culture of orderliness and organisation in vehicle parking in Abuja.
He said the initiative will decongest the city and make motoring a more pleasant experience.
“So, while the agreement is being signed today, the commencement of the park and pay is not starting today,” Adesola said.
“The communication that should precede the implementation of the project is that the citizens need to know that we are signing on-street parking.
“A lot of activities will follow. There will be robust stakeholders’ engagement; the operators will visit key institutions and will engage residents through electronic and print media.
“This is to ensure that people are sensitised and above all, to be aware that there will be a period of free parking, just for people to know how to use the facility.”
The policy was suspended in April 2014 after a high court judgement stopped the FCTA from collecting fees from residents for on-and-off the street parking within the metropolis. The court added that the policy was not backed by law.
Towards the end of former president Muhammadu Buhari’s administration in May, the FEC granted approval for the revival of the street parking scheme in Abuja.
Following the signing of the agreement, the concessionaires have already marked the areas allocated to them in preparation for the enforcement of the scheme.
