The Minister of the Federal Capital Territory (FCT), Nyesom Wike, directed investors to explore opportunities in Abuja’s satellite towns and emerging development corridors, saying the next phase of the capital’s growth would extend beyond the traditional high end districts.
Represented by the Minister of State for the FCT, Dr. Mariya Mahmoud, Wike said ongoing infrastructure projects across the territory were opening new areas for residential, commercial and industrial investment.
He spoke at the opening of the Abuja Business and Investment Expo (ABIE 3.0) organised by Abuja Investments Company Limited (AICL) in Abuja.
‘The next phase of Abuja’s development will not be restricted to Maitama, Asokoro, Wuse or the Central Business District. It will include communities and investment opportunities across the entire Federal Capital Territory,’ he said.
Wike said roads, bridges and other infrastructure being developed across the six Area Councils were creating new investment corridors and improving access to communities, markets, schools and healthcare facilities.
He explained that the projects were aimed at opening up more districts for development while spreading economic activities beyond the city centre.
The minister urged investors to take advantage of opportunities in emerging districts, agricultural communities and satellite towns, saying they would play a key role in Abuja’s next phase of growth.
He identified real estate, transportation, agriculture and agro processing, tourism, healthcare, education, renewable energy, technology, digital services, entertainment, waste management and urban infrastructure as sectors with investment opportunities.
Wike said the FCT Administration was also strengthening land administration, expanding digital processes and simplifying approval procedures to improve the investment climate.
‘We are working to simplify applications and approval processes so that investors can obtain accurate information and receive timely decisions,’ he added.
He noted that while the administration would continue to support investors, compliance with regulations remained a condition for doing business in the territory.
‘We will support and protect genuine investors, but we will not protect land speculators, fraudulent developers or businesses that disregard the law,’ he said.
Also speaking, the Director-General of the Securities and Exchange Commission (SEC), Dr. Emomotimi Agama, said the capital market could provide long term financing for infrastructure projects needed to support Abuja’s expansion.
He said strengthening collaboration between the FCT Administration and the capital market would help mobilise funds for infrastructure and broaden investment opportunities in the territory.
Earlier, the Group Managing Director of Abuja Investments Company Limited (AICL), Amb. Maureen Tamuno, said the expo was designed to connect investors with opportunities across key sectors of the FCT economy.
She said participants would engage in investment forums, exhibitions, business networking sessions and policy dialogues covering infrastructure, real estate, technology, renewable energy, solid minerals, sports and the creative economy.
Tamuno added that the expo was expected to facilitate partnerships between government and private investors to support economic activities in the Federal Capital Territory.