The Director, Public Building of the FCTA, Mr Bernard Lot, who made the disclosure while speaking with newsmen in Abuja said the gate, would serve as a symbol of cultural heritage for the nation's capital.
Lot said that the gate, to be located at Kuje.
Junction on airport road, would replace the existing one close to the National Stadium.
He said the new gate which would be designed to have the Northern, Southern and Central axis of the country was expected to be executed through Public Private Partnership.
"The Central axis will have pedestrian bridges; the Northern axis would have conference rooms, parade ground, botanical garden, five star hotel and hospital among others.
"The Northern axis would also serve as a place where a new president would be given key to enter the city.
"The Southern axis of the project, to be sited close to the Centenary City, will be used for commercial activities, such as shopping, amphitheatre, among others.
The News Agency of Nigeria (NAN) recalls that the FCT Minister, Sen. Bala Mohammed, during his 2012 media tour, had said the project was meant to restore the city's original master plan.
The minister said the old city gate was wrongly located, adding that the project would also serve as a tourist attraction.
He said that the project would also have social and economic significance to FCT residents and visitors to the city.
While millions of its citizens are in poverty, begging on the street, they're spending $400 to build a new gate. May deal severely with these fools!