Section 3

to undertake and carry out land development projects;

to promote and assist in the investigation, formulation and implementation of projects for development, settlement and management of land in the Federation;

to promote, stimulate, facilitate and undertake economic, social, residential, agricultural, industrial and commercial development and management and other ancillary activities and services in any area for which the Authority has been vested with the power to carry out land development projects or any other area which has been acquired, purchased, leased by or alienated to or is otherwise held or enjoyed by the Authority or its corporations or companies for the performance of its functions;

to undertake and carry out such activities as may assist in the modernization of the agricultural sector in the area mentioned under paragraph (c); and in particular activities relating to the production, utilization, processing and marketing of crops, livestock and fresh water fisheries;

to assist, guide, advise, manage, administer and coordinate economic, social, residential, agricultural, industrial and commercial activities whether within or outside the area mentioned under paragraph (c).

to carry on all activities the carrying on whereof appears to it to be requisite, advantageous or convenient for or in connection with the discharge of its said duties including the provision of infrastructure and social amenities and other ancillary services;

to promote and co-ordinate the carrying on of any such activities by boards, corporations, companies and other bodies or persons and to give assistance to such boards, corporations, companies and other bodies or persons including financial assistance, by way of grant, loan or otherwise;

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with the approval of the Minister to enter into a partnership, joint venture, undertaking, co-operation in any manner, an arrangement for the sharing of profits or to carry on such activities in association or otherwise, with any person, public authority, corporation, company or other body (including the Government of the Federation or any State Government) carrying on or engaging in any such activities and to take or otherwise acquire shares and securities of any such public authority, corporation, company or other body, and to sell, hold on, reissue with or without guarantee, such shares and securities or otherwise dispose of or deal with them;

(ca) with the approval of the Minister, to establish or promote the establishment of companies to carry on or engage in any activity which has been planned or undertaken by the Authority (including the taking over of the function of a corporation which has been wound up and dissolved under section 43);

to make loans, subject to such conditions as the Authority may think fit, in accordance with this Act;

to do anything and to enter into any transaction (whether or not involving expenditure, borrowing in accordance with this Act in that behalf, granting of loans or investment of money, the acquisition, use and disposal of any movable or immovable property, including rights) which in its opinion is calculated to facilitate the proper discharge of its functions or is incidental or conducive thereto.

establish, maintain and administer or continue to maintain and administer and subsequently wind up, such funds into which shall be paid sums contributed by the persons participating in the land development and settlement

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projects carried out by the Authority, sums donated by any person or body and such other sums as may be determined by the Authority; and

utilize the funds mentioned under paragraph (a) for the purpose which the Authority may consider necessary for the welfare and benefit of the persons, and the dependants of the persons, participating in the land development and settlement projects carried out by the Authority.