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.

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The lease agreement over Abuja’s disputed Riverpark Estate has been declared void, with all undeveloped plots ordered to be repossessed by the Federal Capital Territory Administration (FCTA).

FCT Minister, Nyesom Wike, approved the measures following the submission of a report by a special investigative committee established on August 8, 2025, to resolve the crisis and recommend reforms to restore order and protect subscribers.

The Riverpark dispute has dragged on for years, rooted in conflicting claims between Houses for Africa Nigeria Limited, the original Special Purpose Vehicle, and Paulo Homes Limited, which allegedly acquired ownership. The transaction triggered prolonged litigation, with multiple firms and individuals staking competing claims to the vast land located along the Lugbe Expressway.

Investigations by the committee, chaired by Salman Dakko, General Counsel and Secretary of the FCT Legal Services Secretariat, revealed fundamental breaches of the lease agreement, unauthorised allocations, and irregular land titles.

The report warned that the pattern of conduct “risks institutionalising systemic abuse, eroding investor confidence, and gravely undermining the integrity of land administration in the FCT.”

It recommended that all undeveloped plots be withdrawn and reverted to the administration, while valid subscribers with customary titles who had developed their properties in line with planning regulations be allowed to retain them. Those holding undeveloped plots would be relocated to Kpoto District.

The FCTA also approved the creation of a Transitional Special Management Committee comprising FCTA officials, the Riverpark Estate Residents Association, and security agencies. The body will oversee estate security, verify legitimate subscribers, and manage title regularisation.

In addition, the administration formally declared the Development Lease Agreement lapsed and void due to “fundamental breaches of its terms and expiration by effluxion of time.”

All irregular Certificates of Occupancy will be cancelled and replaced with fresh titles issued directly to verified subscribers.

Wike also endorsed the prohibition of dealings with developers previously linked to the project, including JonahCapital Nigeria Limited, Houses for Africa Nigeria Limited, Paulo Homes Limited, and Common Consultants Limited.

Beyond the Riverpark case, the committee proposed preventive reforms to strengthen land administration in the FCT. These include:

•Automated alerts in the land registry to track lease expirations.

•Stricter interdepartmental reviews for mass housing projects.

•Revisions of guidelines to ban “shares-for-land” arrangements.

Approving the report in its entirety, the minister said: “I hereby approve every recommendation made by the committee.”

With this decision, the FCTA has signalled a tougher stance on irregular land transactions and pledged to restore investor confidence in the territory’s land administration system.

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