WIKE AND ABUJA’S CHANGING BUSINESS ENVIRONMENT
When the Federal Capital Territory (FCT) was ranked 31st in the 2023 Subnational Ease of Doing Business assessment, there was little indication that within a relatively short period, Nigeria’s capital
The Federal Capital Territory (FCT) of Nigeria, previously ranked 31st in the 2023 Subnational Ease of Doing Business assessment, has experienced a significant change in its business environment. Today, Abuja is positioned within the country's top five business-friendly destinations. This transformation can be attributed to the administration of Ezenwo Nyesom Wike, the Minister of the FCT, who has prioritized infrastructure development, land administration reforms, institutional effectiveness, service delivery, and private-sector investment.
Key aspects of the reform include the construction, rehabilitation, and expansion of roads, which have improved connectivity and movement within the city and its satellite communities. Land reforms have also been a focus, with the administration strengthening land documentation integrity, addressing land allocation abuses, enforcing development conditions, and improving accountability.
Furthermore, the introduction of ground rent obligations and the recovery of outstanding revenues have emphasized the need for responsible land administration.
The Federal Capital Territory Administration's investment arm, Abuja Investments Company Limited (AICL), has been instrumental in promoting Abuja as an attractive investment destination. AICL has intensified efforts to engage both domestic and international investors, creating platforms to connect government opportunities with private-sector capital. By focusing on real estate, agriculture, renewable energy, markets, and other investment opportunities, AICL complements the administration's economic development agenda.
The remarkable ranking improvement from 31st to 4th in the ease-of-do-business assessment cycle signifies that Abuja is moving in the right direction. The combination of infrastructure renewal, land reforms, institutional improvements, and investment promotion is producing measurable outcomes. As the FCT traverses from 31st to 4th position, the challenge now is to maintain this momentum and transform the nation's capital into one of the best places in Nigeria for investment and business.
Written by urgent.news from This Day's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
