The Federal Capital Territory Administration (FCTA) has formalised development agreements with Suburban Broadband Limited and Akida Hills Limited for the delivery of a landmark recreational hub in Abuja.
Speaking at the signing ceremony, the Minister of the FCT, Nyesom Wike, described the initiative as a strategic push to reposition Abuja as a premier leisure and investment destination. He noted that while the city is rapidly expanding, its growth has been hampered by land speculation and undeveloped allocations.
Wike announced a recalibration of land management policies, declaring an end to “hoarding and speculating government land.” He issued a six-month ultimatum to allottees to commence and complete agreed development milestones or risk revocation.
Representing Suburban Broadband Limited, Pankaj Khandelwal described the agreement as a defining milestone, positioning the project as a high-impact investment expected to catalyse socio-economic growth, stimulate job creation, and deepen private sector participation in Abuja’s urban transformation.
On behalf of Akida Hills Limited, Bamisile Olukayode commended the minister’s bold development drive, describing the redevelopment of Jabi Lake as an “exciting” undertaking with the potential to redefine Abuja’s global profile. He projected that the recreational hub would rival iconic destinations such as Times Square and the Dubai Fountain, transforming Abuja into a competitive global city.
Olukayode assured stakeholders that the project would be delivered before the end of the year, positioning it as a quick-win infrastructure initiative aligned with the administration’s accelerated development blueprint.
Eunice Orike, Abuja
