Economic Development: Abuja Offers 274,000 Hectares, Courts EU Investors
Dr Nafisat Makinde, Abuja
The Minister of the Federal Capital Territory (FCT), Nyesom Wike, has opened up Abuja to European investors, offering 274,000 hectares of arable land alongside a rapidly expanding real estate market as part of a strategic push to attract foreign capital.
The Minister made the call on Tuesday, May 5, 2026, during a high-level engagement with envoys of the European Union at the EU House in Abuja, where he presented the FCT as a business-friendly capital supported by rising revenue, infrastructure development, and strengthened security systems. The statement was disclosed by Rabi Musa Umar, Deputy Director of Press in the Office of the Minister.
Wike said the administration is focused on building mutually beneficial partnerships rather than seeking aid, stressing that the FCT is prepared to secure investments and provide land through public private partnerships.
He disclosed that the territory has about 274,000 hectares of arable land, particularly across the Area Councils, with ongoing road construction aimed at improving access and boosting agricultural productivity.
Beyond agriculture, the Minister highlighted Abuja’s growing real estate sector, noting strong demand for both residential and commercial housing and describing the sector as highly attractive to investors.
He assured that necessary laws are in place to protect investors from fraudulent practices and to guarantee a secure investment climate.
On revenue, Wike revealed that the FCT’s internally generated revenue has increased from N7 billion monthly in 2023 to N40 billion in 2026, making it the second highest revenue generating sub-national after Lagos.
He attributed the growth to reforms in revenue administration and broader improvements in governance, including efforts to strengthen judicial independence and institutional capacity.
The Minister also outlined ongoing infrastructure development, including the expansion of road networks and water supply to satellite towns such as Karu, Orozo, and Bwari, which are scheduled for inauguration as part of President Bola Ahmed Tinubu’s third-year anniversary.
He further highlighted progress in renewable energy projects following agreements with Chinese firms, alongside enhanced security measures including inter-agency collaboration, deployment of specialised equipment, and the construction of new police divisions across the Area Councils, while the Head of the EU Delegation to Nigeria, Gautier Mignot, commended ongoing efforts and expressed optimism about deepening economic cooperation.