The Federal Capital Territory Administration (FCTA) has taken a major step toward transforming Jabi Lake into a world-class recreation hub, signing development agreements with Suburban Broadband Limited and Akida Hills Limited.
At a brief but pointed ceremony in Abuja, the FCT Minister, , made it clear that the era of land speculation in the capital city is coming to an end.
Describing Abuja as one of Nigeria’s fastest-growing cities with enormous recreational potential, Wike lamented that progress had been slowed by individuals and companies who acquire land only to sit on it without development.
“It is no longer business as usual,” the Minister warned, stressing that allottees must develop allocated land within six months or risk revocation.
The agreements signed with and will see the development of a modern recreational and commercial hub around , one of Abuja’s most scenic locations.
Speaking on behalf of Suburban Broadband Limited, Mr. Pankaj Khandelwal described the agreement as a milestone for the company and a significant investment in the FCT. He said the project is expected to stimulate socioeconomic growth and generate employment opportunities.
Similarly, Mr. Bamisile Olukayode, representing Akida Hills Limited, praised the Minister’s resolve in pushing forward major development initiatives. He described the Jabi Lake project as “exciting” and ambitious, promising that it would rival iconic attractions such as and the .
According to him, the development will reposition Abuja as a destination city and place it among leading global capitals. He also assured that the project would be delivered before the end of the year.
With the latest move, the FCTA appears determined to send a strong message: develop your land or lose it.
