By Abdullahi Lukman
The Federal Capital Territory Administration (FCTA) has signed a Memorandum of Understanding with Suburban Broadband Ltd. and Akida Hills Ltd. to transform Jabi Lake into a major recreational hub in Abuja.
The agreement was formalised on February 13, 2026, in Abuja, where the Minister of the Federal Capital Territory, Nyesom Wike, described the capital city as a rapidly growing urban centre with strong potential for leisure and tourism development.
Wike said the project forms part of broader efforts to position Abuja as a destination city but expressed concern that land speculation had slowed infrastructure growth.
He warned that the administration would no longer tolerate land hoarding, stressing that any allocated land must be developed within six months or risk revocation.
Representing Suburban Broadband Ltd., Pankaj Khandelwal described the MoU as a milestone for the company, noting that the Jabi Lake project would attract significant investment, stimulate socio-economic growth and generate employment opportunities in the FCT.
Akida Hills Ltd. representative, Bamisile Olukayode, commended the minister for ongoing infrastructural reforms and pledged to deliver a landmark project.
Olukayode said the redevelopment would rival global attractions such as Times Square and the Dubai Fountain, enhancing Abuja’s global profile.
Hee said the Jabi Lake development is scheduled for completion before the end of 2026 and is expected to elevate Abuja’s status among world-class cities.
