The Federal Capital Territory Administration (FCTA) has signed Development Agreements with Suburban Broadband Limited and Akida Hills Limited for the transformation of Jabi Lake into a world-class recreational hub in the heart of Abuja.
The signing, which occurred during a brief ceremony in the FCT Minister’s conference room, was disclosed in a statement on Friday by Deputy Director of Press, Rabi Musa Umar.
According to Umar, the FCT Minister, Nyesom Wike while speaking at the signing ceremony, described Abuja as a fast-developing city with strong potential for recreation and tourism, but lamented that progress had been hampered by land speculators who acquire plots without developing them.
“Abuja is a fast-developing city and a perfect location for recreation, but the pace of development has been slowed down by people who hoard and speculate with government land,” Wike said.
He warned that the administration would no longer tolerate such practices, declaring that “the days of land speculation are over.”
“For those that have applied for land for development, they will get it done in the next six months, and we will revoke it if it is not done,” the minister stated.
The representative of Suburban Broadband Limited, Mr. Pankaj Khandelwal, who also spoke at the signing ceremony, said the Development Agreement marked a major milestone for the company and described the Jabi Lake project as a significant investment for the territory.
“This Development Agreement is an important landmark for our organisation. The project is a major investment that will drive socio-economic growth and create jobs in the FCT,” Khandelwal said.
On his part, the representative of Akida Hills Limited, Mr. Bamisile Olukayode, commended the FCT Minister for what he described as the courage to undertake major developmental initiatives in the nation’s capital.
He described the Jabi Lake project as “exciting” and said it would be developed to international standards.
“The project will be comparable to Times Square and the Dubai Fountain Water Show. It will turn Abuja into a destination city,” Olukayode said.
He further assured that the development would place Abuja among world-class cities globally and disclosed that the project was expected to be completed before the end of the year.
The agreements awee part of the FCTA’s broader efforts to reposition Abuja as a leading destination for leisure, tourism and investment, while enforcing stricter compliance with land development conditions.
