By Sarah NEGEDU
President Bola Tinubu said the Federal Government has positioned the Abuja City Walk corridor as a free trade zone to attract investment, boost regional commerce and strengthen Abuja’s emergence as a destination for global business and tourism.
The President said the initiative forms part of efforts to create an enabling environment for private sector-led development, with the Abuja City Walk project expected to drive investment in hospitality, retail, healthcare and other sectors of the economy.
Tinubu spoke on Thursday, during the launch of the Abuja City Walk Sales Office and Experience Centre in Abuja, where he was represented by Vice President Kashim Shettima.
He said the project was a clear demonstration of his administration’s commitment to economic transformation and infrastructure renewal under the Renewed Hope Agenda.
“By granting this corridor a free trade zone status, we have further eliminated trade friction, laying down a fertile environment for regional commerce, medical tourism, premium retail, and high-end hospitality,” the President said.
He assured both local and foreign investors that Nigeria remains open for business, adding that government was continuously improving the country’s legal, physical and financial frameworks to protect investments and remove unnecessary bottlenecks.
According to him, the Abuja City Walk development, located along the Abuja Airport Expressway corridor, ranks among the most ambitious private-sector investment projects in the country and is expected to become a major gateway for commerce and modern urban development.
Tinubu said the project also highlighted the importance of collaboration between government and the private sector, stressing that sustainable national development could not be achieved by government alone.
“The Abuja City Walk is a shining example of what can be achieved when political will meets private sector expertise and capital,” he said.
The President added that beyond its planned luxury residences, hotels, office towers and commercial facilities, the project would generate thousands of direct and indirect jobs for young Nigerians, artisans, engineers and other professionals while stimulating economic activities across the FCT and neighbouring states.
He also said the administration was gradually ending the era of speculative land holding and abandoned projects in the Federal Capital Territory.
“We have made it clear that land is an asset for rapid development, not an instrument for developmental retrogression and speculative hoarding,” he said.
Earlier, FCT Minister Nyesom Wike said the project was conceived as part of efforts to attract investment into the nation’s capital and transform a site that had remained largely undeveloped for decades.
The minister disclosed that the 250-hectare location earmarked for the project was originally designated for the Abuja Technology Village more than 30 years ago but had become vulnerable to encroachment and competing ownership claims.
“This particular place is supposed to have what they call the Technology Village, which has been here for over 30-something years,” Wike said.
He said the FCT Administration intervened to reclaim the land and put in place measures to ensure the project moved beyond the planning stage, adding that government entered into a memorandum of understanding with the developers containing clear milestones and timelines.
Wike said bureaucracy was deliberately reduced to encourage investment, noting that relevant agencies were brought together to fast-track approvals while access roads to the site were also provided by the administration.
The minister, however, warned that the land could be reclaimed if the developers failed to meet agreed targets.
“We have also agreed in the Memorandum of Understanding, after now, in the next one year, we have achieved so-so things. If that is not achieved, we’ll take back our land. Because I’m not interested in theories and theories and theories, I’m interested in keeping to our agreement in terms of what we have said,” he said.
He added that the role of government was to create an enabling environment for investors to develop projects capable of creating jobs and expanding economic opportunities for residents of the FCT and beyond.
