Proposed Jabi Lake tourism, recreation project to generate N123bn



By Folasade Akpan / Salisu Sani-Idris
The Infrastructure Concessions Regulatory Commission (ICRC) said the Jabi Lake Tourism and Recreation Development Project will generate 123 billion naira over a 30-year period.

Mr. Micheal Ohiani, acting director general of the ICRC, said on Wednesday in Abuja, while presenting the company certificates (OBC) to Mrs. Ramatu Aliyu, Minister of State of the Federal Capital Territory (FCT).

Ohiani said the project would also generate a net present value of 1.5 billion naira, an internal rate of return of 17.75% and a payback period of 17 years.

“It will also generate direct revenues (concession revenues) for the government through a public-private partnership (PPP) with the Federal Capital Territory Administration (FCTA) of over three billion naira during the same period. . “

The CEO said the project, which would cost $ 21 million, was in two phases.

He said the first phase would cost $ 10 million and the second phase would cost $ 11 million.

Ohiani said the ICRC believes the Jabi Lake project is transformational with invaluable economic multiplier effects in the travel and hospitality sector.

He said it has the potential to create jobs, lift millions of people out of poverty, jumpstart the Bottom of the Pyramid (BdP) economy and revive the tourism ecosystem.

“We also envision that the actualization of the Lake Jabi project will not only keep our currencies on international tourism, but become a source of foreign currency income and position Abuja as a tourist destination.

“This is indeed a transformation project and we therefore call on Minister FCT to support the Transaction Adviser security project to advise the FCT and guide the procurement phase until the commercial and financial close.

Upon receiving the certificate, Aliyu said that all measures will be taken to make the project a reality within a short period of time.

“I am counting on the support of all of us, of all of you, to ensure that the project starts before the end of the year, precisely on October 1st.

“It was Mr. President’s dream, to sail on Lake Jabi, to appreciate the essence of aesthetic beauty, both of the lake, the beauty of the landscapes, the new look of Abuja and the new center of attraction. “

She said the project implementation team would proceed with the implementation of the next steps until the conclusion of the full business case to be submitted to the ICRC as the first certificate of compliance.

The Jabi Lake Tourism and Recreation Development Project is an unsolicited proposal prepared by Jabi Lake Leisure and Cruise Limited.

It is expected to be a tourist destination, offering boat cruises, water sports, and hospitality to tourists and CTF residents. (NOPE)


Short Link:


NNN: :is a Nigerian online news portal that publishes breaking news in Nigeria, and across the world. Our journalists are honest, fair, accurate, thorough and courageous in gathering, reporting and interpreting news in the best interest of the public, because truth is the cornerstone of journalism and they strive diligently to ascertain the truth in every news report. Contact: editor[at]

Police arrest suspected murderer of 29-year-old man in Ebonyi Kebbi to 10,000 loan seekers AGMIES – Official Chief Justice Delta inaugurates Abraka’s Judicial Division PSDC provides motorized water bodies to remote communities in Kebbi NPA appoints 4 CEOs, 8 AGMs – Official Gunmen kill Amotekun’s body in Oyo NGX indices increase by 0.29% on GTBank and Lafarge Africa rally Senate holds minute’s silence for Bode Olowoporoku We did our best to save Nigeria from insecurity – Ex CDS, Olonisakin Bauchi halts wages of 715 suspected ghost workers – SSG Governor Oyetola inaugurates committee on mining pollution Kwara launches 500 hectare youth farm program Group worries about rising wave of insecurity in southeast Ministry partners with media to control spread of tuberculosis Insecurity: the IGP promises reinforced synergy with the army SFOC instructs Senate with appropriate funding for Nigerian military NEITI and ICPC form joint cooperation on anti-corruption issues in the extractive sector Senate approves Buhari’s $ 1.5 billion and € 995 million external loan requests Customs generates 38.8 billion naira at Onne in the first quarter – Controller Violence against children recedes in development – rights activist IT company offers week-long coding program for kids DR Congo: armed violence in Tanganyika deprives people of health care AU offers industrial-scale agro-processing to boost trade Lagos CARES will support 125,058 inhabitants in 2 years Nigerian Martine Security Trust Fund Bill Gets Second Reading FG inaugurates national gender committee to bridge gender gap International conference on the food security storage system in West Africa: ECOWAS will build a multilateral partnership around its experience COVID-19: DPR recommends rapid antigen diagnostic tests for offshore workers UNICEF hands over cold chain vehicles and equipment to the Expanded Program on Immunization (EPI) of the Ministry of Health and Sanitation Somalia implements innovative project to improve psychosocial support and mental health care for conflict-affected youth through integrated and inclusive approach to peacebuilding COVID-19: UNFPA supports Gombe State with PPE Somalia braces for record levels of displacement as drought sets in US government provides medical supplies to fight COVID-19 pandemic in Zanzibar WHO Regional Director for Africa concludes visit to Ethiopia FIS partners with Flutterwave Coronavirus – Ethiopia: COVID-19 update (April 20, 2021) Senate approves N1.678trn revenue target for NCS Coronavirus – Malawi: COVID-19 update (April 20, 2021) CAF: NPFL Forum congratulates Ikpeazu and NFF for Enyimba’s charter flight agreement Coronavirus – Kenya: COVID-19 update (April 20, 2021) Coronavirus – Eritrea: Ministry of Health announcement (April 20, 2021) Coronavirus – Namibia: COVID-19 update (April 20, 2021) Coronavirus – Gambia: COVID-19 update (April 20, 2021) African air ministers adopt common position on international travel Coronavirus – Rwanda: COVID-19 update (April 20, 2021) Coronavirus – Zambia: COVID-19 update (April 20, 2021) Coronavirus – Nigeria: COVID-19 update (April 20, 2021) Coronavirus – South Africa: COVID-19 update (April 20, 2021) China administers more than 200 million doses of COVID-19 vaccine AIMS and Baden-Württemberg International (BW_i) organize a virtual conference on digitization and health