FCTA Signs Development Agreement with Int’l Group for Abuja City Walk

By Toffa Momoh, Abuja

The Minister of the Federal Capital Territory (FCT) Nyesom Wike, has signed a Development Agreement with MAG International Links Limited, an International Consortium, for the development of the Abuja City Walk project.

Speaking during the signing ceremony in Abuja, Wike reiterated the FCT Administration’s commitment to fostering an enabling environment for foreign investment, in line with the Renewed Hope Agenda of the Federal Government.

The Minister confirmed that the FCTA has approved the Building Plan for the ambitious Abuja City Walk project, which is modelled after the Dubai City Walk, while the Certificate of Occupancy has also been signed, clearing the path for immediate commencement of the project

He explained that the signing of the agreement was aimed at specifying the terms for the development of the project, which will be situated on approximately 200 hectares of land along the airport expressway.

Providing details on the agreement, the Minister said, “If anybody has gone to Dubai and has seen the Dubai City Walk, there is no way you will not appreciate and encourage investors to come, that we are willing to work with them”.

Addressing past challenges with purported investors who turned land speculators after being allocated land by the FCT Administration, Barrister Wike issued a stern warning that such practices would no longer be tolerated.

He said stringent measures have been taken to ensure that the agreement clearly defines the terms of development while also introducing revocation clauses for non-compliance.

The Minister said the company, as specified in the agreement, is expected to complete one aspect of the project by May 2026 in time for another round of projects commissioning to celebrate President Bola Tinubu’s third year in office, adding that the foundation for the project must also be established within one month from the day of signing the agreement.

According to him, “In the first part of it, from now till May, next year, which will be the third anniversary of the President, one aspect of it must be completed. And that from now till August, the foundation must be laid. So that is the whole essence of our gathering here today”.

Speaking further, the Minister said, “When they approached us, I made it clear to them that I’ve heard of people being interested in development partnership and they ask for land. But at the end of the day, you hardly see any investment or development. They turn to land speculators and I said we are not going to accept that.

“But we have to sign an agreement that if you don’t comply within so-so and so-so time, then we have the right to revoke because we are not going to just give you a C of O to say we are giving you land and then nothing happens. We will not accept that again”.

While also blaming some of the delays in project execution in the FCT on bureaucratic bottlenecks, the Minister said necessary steps have been taken to ensure a smooth process for the Abuja City Walk.

The Minister who expressed confidence in MAG International Links Limited, said, “They have gotten their development plans and C of O and after we have signed agreements, they must hit the ground running. We have to see that they are serious. And it seems that they are very, very serious. I have visited them and I was quite impressed with what I saw”.

Wike further emphasized that the FCT Administration is ready to work with serious investors for the development of the FCT while also stressing that the enabling environment has been provided for investments in the FCT.
He said the core essence of the Renewed Hope Agenda was not just to attract investors but also to create employment opportunities for Nigerians.

According to him, “Mr. President has always said that Nigeria is free and we are willing to welcome investors who want to invest and contribute to the development of our country. And with the enabling environment provided by Mr. President and with the support of the FCT Administration, we are ready to work with investors who wish to partner with us”.

In his response, the Executive Director, MAG International, Dr Kassim Gidado, highlighted the organisation’s extensive experience in promoting Nigerian exports and attracting investments, working in collaboration with various government agencies.

He expressed profound appreciation for the FCT Minister’s immense support which, he said, has given investors the needed encouragement and significantly boosted investors’ confidence in the FCT.

Dr Gidado also expressed strong confidence that the Abuja City Walk, once fully executed, will not only replicate but potentially surpass the renowned Dubai City Walk and London’s Canary Walk. He said the project will massively regenerate the entire airport road axis of the FCT.

“We believe the City Walk is going to transform the Lugbe area completely, and that will trigger a lot of regeneration. It’s not different from what happened in London when the Canary Walk was developed. That particular part of London was the worst part of London, characterized by massive crime and all sorts of thing. But today, the Canary Walk is the most expensive square meter you can find in the world because massive regeneration has taken place”.

He thanked the Minister for the confidence in the company and his commitment to supporting Nigerian investors, and expressed optimism that their shared vision and partnership have the potential to create something better than London’s Canary Walk.