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From Juliana Taiwo-Obalonye, Abuja
The Federal Capital Territory Administration (FCTA) has signed development agreements with Suburban Broadband Limited and Akida Hills Limited to revamp Jabi Lake into a vibrant recreational hub, signalling the end of land speculation in the nation’s capital.
FCT Minister Nyesom Wike, who presided over the signing ceremony in his conference room, hailed Abuja as a fast-growing city ideal for recreation but decried how land speculators have stalled progress by hoarding plots without development.
“The days of land speculation are over,” Wike declared. “It is no longer business as usual for those hoarding and speculating on government land. For those who 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.”
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According to a statement by Deputy Director, Press, Rabi Umar, the agreements aim to unlock socio-economic growth, create jobs and position Abuja as a global destination.
Representing Suburban Broadband Limited, Pankaj Khandelwal called the deal a “landmark” for his firm, emphasising its potential for jobs and economic boost in the FCT.
Bamisile Olukayode of Akida Hills Limited praised Wike’s bold leadership, describing the Jabi Lake project as “exciting”. He promised a world-class attraction rivaling New York’s Times Square and Dubai’s Fountain Water Show, assuring completion before year-end to elevate Abuja among the top global cities.
