FCTA Seals Deal to Transform Jabi Lake into Major Recreation Hub

By Urube Peter, Abuja

The Federal Capital Territory Administration (FCTA) has formalised Development Agreements with Suburban Broadband Limited and Akida Hills Limited for the transformation of Jabi Lake into a modern recreational hub in Abuja. The agreements were signed during a ceremony held in the conference room of the FCT Minister.

The FCT Minister, Barrister Ezenwo Nyesom Wike, described Abuja as a rapidly expanding city with strong potential for leisure and tourism. However, he expressed concern that land speculation has hindered development, with some individuals acquiring plots without putting them to productive use. “The era of land speculation is over,” Wike cautioned, stating that allottees granted land for development must commence work within six months or risk revocation.
Speaking on behalf of the partnering firms, Mr. Pankaj Khandelwal of Suburban Broadband Limited described the agreement as a significant milestone that will stimulate socio-economic growth and create employment opportunities within the FCT. Similarly, Mr. Bamisile Olukayode of Akida Hills Limited assured that the project would deliver a world-class attraction comparable to Times Square and Dubai Fountain, positioning Abuja as a premier destination city.
The development is projected for completion before the end of the year, a move expected to elevate Abuja’s status among leading global cities.