FCTA, coy signs MoU to develop Jabi Lake

The Federal Capital Territory Administration (FCTA), led by the Minister, Nyesom Wike, has officially signed a trans-formative Memorandum of Understanding (MOU) with Suburban Broadband (SPV) to redevelop the Jabi Lake waterfront. The project aims to convert the area into an internationally acclaimed, mixed-use luxury hub. Abuja Metro reports that the agreement, signed last Friday, is […]

The Federal Capital Territory Administration (FCTA), led by the Minister, Nyesom Wike, has officially signed a trans-formative Memorandum of Understanding (MOU) with Suburban Broadband (SPV) to redevelop the Jabi Lake waterfront.

The project aims to convert the area into an internationally acclaimed, mixed-use luxury hub.

Abuja Metro reports that the agreement, signed last Friday, is designed to position Abuja as a premier global destination, drawing comparisons to iconic landmarks such as Dubai’s Palm Jumeirah.

The Suburban Broadband (SPV) delegation, led by Barr. Ahmed Nasser (Dan Darman Lokoja), included several high-level partners like Mrs. Olufunmilayo Hannah Aigbomian, Mr. Idris C. Usman (First Trust Mortgage Providers) and Mr. Pankaj (Foreign Technical Partner)

The consortium has committed to mobilizing to the site immediately, with a firm pledge to deliver the project within the stipulated time frame.

Developers said the project is expected to generating thousands of direct and indirect employment opportunities, develop world-class residential, commercial, hospitality, and recreational facilities as well as elevating Abuja’s status to attract international business and leisure travelers.

“This partnership marks a pivotal step in redefining Abuja’s skyline and global reputation. Jabi Lake Waterfront will cement the FCT’s status as Africa’s leading capital city,” Barr. Ahmed Nasser said.

The minister, Nyesom Wike, urged the Suburban Broadband team to adhere strictly to the terms of the MOU, emphasizing the necessity of transparency, sustainability, and excellence.