Wike Assures FCT Investors of Protection, Targets Land Speculators

The Minister for the Federal Capital Territory, Nyesom Wike, on Wednesday declared Abuja officially 'open for business,' providing assurances to both local and foreign investors. He stated that the Federal Capital Territory Administration (FCTA) is committed to safeguarding genuine investments while actively pursuing land speculators, fraudulent developers, and businesses that disregard development regulations.

Wike made these remarks during the opening ceremony of the Abuja Business and Investment Expo 3.0, an event organized by the Abuja Investments Company Limited. He emphasized that the FCTA's ongoing efforts in infrastructure development and reforms in land administration are strategically positioning the nation's capital as Nigeria's premier investment hub and one of Africa's most competitive cities for commercial activities.

Addressing the theme, “Building Nigeria’s Capital: Investment as a Catalyst for Economic Growth,” the Minister highlighted that the FCT Administration has moved beyond mere promises, now delivering tangible infrastructure projects across the territory. He affirmed, “The Federal Capital Territory is open for business. The FCT Administration is ready to partner with investors who possess the technical capacity, financial strength, experience and integrity required to deliver successful projects. We will continue to provide the infrastructure necessary for businesses to operate and grow. In return, investors must fulfil their obligations, meet agreed standards, deliver projects within established timelines and ensure that their investments create value for the people of the Federal Capital Territory.”

However, Wike issued a stern warning, stating that the administration would not compromise the integrity of the Abuja Master Plan in its drive to attract investments. He reiterated, “The FCT Administration remains committed to creating a transparent, efficient and rules-based business environment. However, ease of doing business does not mean the absence of regulation.” The Minister further elaborated, “Every investor and developer must respect the Abuja Master Plan, environmental standards, building regulations, tax obligations and the terms of their development approvals. We will support and protect genuine investors, but we will not protect land speculators, fraudulent developers or businesses that disregard the law. Our commitment is to an investment environment that is both business-friendly and properly regulated.”

Speaking on the reforms implemented by his administration, Wike revealed that the FCT secured the fourth position nationally in the 2025 Presidential Enabling Business Environment Council’s Subnational Ease of Doing Business Assessment, achieving a score of 61 percent. According to him, “The reforms being implemented by the FCT Administration are already producing measurable results. In the 2025 Subnational Ease of Doing Business assessment conducted by the Presidential Enabling Business Environment Council, the Federal Capital Territory was ranked fourth nationally, with a performance score of 61 per cent. However, we are not satisfied with being fourth. Our objective is to make the Federal Capital Territory the leading destination for investment and enterprise in Nigeria and one of the most competitive investment destinations in Africa.”

Wike also noted that investors would ultimately assess the administration based on their practical experience in acquiring land, securing necessary approvals, and operating businesses free from undue bureaucratic hurdles. He underscored the crucial role of infrastructure in the FCT’s investment strategy, pointing out that essential services like roads, bridges, schools, hospitals, water supply, and other public amenities are vital for attracting investors. He quoted, “Investors do not make decisions based on speeches or promises. They invest where there are good roads, reliable public services, access to land, security, efficient institutions, transparent processes and a government that honours its commitments.”

The Minister also mentioned that development is now extending beyond Abuja’s city centre into its satellite towns and Area Councils, facilitated by ongoing road construction and rehabilitation projects that connect communities, markets, schools, health facilities, and agricultural clusters. He urged potential investors to verify existing projects before making investment decisions, stating, “We are not asking investors to rely on promises. We are asking them to examine the evidence, recognise the progress and participate in the next phase of Abuja’s development.” He then highlighted diverse investment opportunities spanning housing, transportation, agriculture, healthcare, tourism, education, renewable energy, technology, entertainment, waste management, and urban infrastructure.

In his contribution, Emomotimi Agama, the Director-General of the Securities and Exchange Commission, suggested that Nigeria’s capital market could offer sustainable funding for Abuja’s ambitious infrastructure plans through innovative investment instruments. Agama described Abuja as “the most eloquent argument” for development driven by investment, asserting, “Abuja is proof that in