The Federal Capital Territory Administration (FCTA) has signed development agreements with Suburban Broadband Limited and Akida Hills Limited to convert Jabi Lake into a major recreational and tourism centre in the nation’s capital.
The agreements were sealed on Friday at a ceremony held in the office of the Minister of the Federal Capital Territory, Nyesom Wike, who described Abuja as a fast-expanding city with enormous potential for leisure, hospitality, and tourism investments.
The signing was confirmed in a statement issued by the Deputy Director of Press in the minister’s office, Rabiu Umar.
Wike said the project is designed to reposition Abuja as a top recreational destination while addressing the persistent issue of land speculation in the capital city.
He warned that the administration would no longer tolerate individuals who acquire plots without developing them.
“Those who obtain land for development must begin work within six months or risk having their allocations revoked,” the minister stated.
According to him, the FCTA is determined to ensure that all allocated land is used productively in line with the territory’s development blueprint.
Private Sector Investment
Speaking at the event, the representative of Suburban Broadband Limited, Pankaj Khandelwal, described the deal as a landmark investment for the company and a major step toward economic growth in the FCT.
He said the project is expected to generate employment opportunities and stimulate socioeconomic activities around the Jabi axis.
Also speaking, the Chairman of Akida Hills Limited, Bamisile Olukayode, praised the minister’s leadership and described the project as an exciting opportunity to transform Abuja into a global destination city.
Olukayode said the planned recreational complex would rival iconic attractions such as Times Square in New York and the Dubai Fountain Water Show, positioning Abuja among the world’s top leisure hubs.
He assured that the project would be completed before the end of the year.
Unlocking Jabi Lake’s Potential
Jabi Lake, one of Abuja’s most prominent natural landmarks, has long been regarded as an underutilised asset despite its central location and scenic environment.
The planned redevelopment is expected to unlock its commercial and tourism potential, attract visitors, and enhance the capital’s image as a modern city with world-class recreational facilities.
