Wike Warns Land Speculators, Seals Abuja Recreation Hub Deal

By Sofiat Adenekan-Abdul

The Minister of the Federal Capital Territory (FCT), Nyesom Wike, has vowed to clamp down on land speculators stalling development across Abuja.

This is as he warns that any developer who fails to utilise allocated land within six months will lose it.

Wike issued the warning in Abuja during the signing of a development agreement between the Federal Capital Territory Administration (FCTA) and two private firms, Suburban Broadband Limited and Akida Hills Limited, for the construction of a major recreational hub in the city centre.

The minister lamented that many investors obtain government land only to leave it undeveloped for years, slowing down growth and distorting the city’s master plan.

“It is no longer business as usual for those hoarding and speculating on government land,” Wike said. “Anyone who has applied for land for development must commence work within six months or have the allocation revoked.”

He described Abuja as one of Nigeria’s fastest-growing cities and stressed that the administration would prioritise partners ready to deliver projects promptly.

At the signing ceremony, representatives of the two companies welcomed the agreement.

Pankaj Khandelwal of Suburban Broadband Limited said the project will boost socio-economic activities and create jobs, while Bamisile Olukayode of Akida Hills Limited said the planned Jabi Lake development would elevate Abuja to the level of global attractions such as Times Square in New York and the Dubai Fountain.

He added that the company is committed to completing the project before the end of the year.