The Federal Executive Council (FEC) authorized the creation of a Planetarium and Museum at the National Space Research and Development Agency on Wednesday (NASRDA).
This is according to a statement released on Wednesday in Abuja by Ms Manji Yarling, Acting Head, Media and Publicity, Infrastructure Concession Regulatory Commission (ICRC).
Yarling said that the projects that will adopt, equip, run, and maintain the Public Private Partnership Model would adhere to the ICRC’s regulatory guidelines.
According to her, the project would earn N30 billion for both the Federal Government and the Private Sector Investor during a 15-year concession term.
“A planetarium is a domed structure that projects pictures of stars, planets, and constellations for public enjoyment or instruction.”
Yarling said that the projects will be carried out by NARSDA, with Messrs Atlantic Factorial Limited serving as the concessionaire.
Mr Michael Ohiani, Director-General of the International Committee of the Red Cross, was reported as stating, “the initiatives would strengthen the nation’s tourist industry and reduce capital flight.”
“A total of 2,160 tourists are anticipated each week, with 360 participating in the skydiving area and 1,800 participating in other tourism activities,” he stated.
Following FEC clearance, Yarling said that the next step of the project will be the signing of an agreement between NASRDA (Grantor) and Milky-Way Visuals Ltd.
According to her, Milky-Way Visuals Ltd. is the Special Purpose Vehicle (SPV) established by the concessionaire to manage the project particularly.
(NAN)
