Abuja the Federal Capital Territory is adjudged the fastest growing capital city in the world. Due to its serenity and peaceful environment, investors are making it a sanctuary for various businesses. In a chat with a real estate investor in Abuja, Dr. Akin Fagbemi, on his choice of Abuja as an investment destination for his business, he reeled out the many benefits and incentives available to him and all prospective investors in Abuja.
According to him, he enjoys security benefits in Abuja unlike in some states where there is high rate of armed robbery and kidnapping, that in Abuja, one is freer and can transact business without fear which makes for a safer business environment. Dr. Fagbemi also remarked that the plan and setting up of Abuja does not allow for heavy traffic jam and even in areas where there is traffic jam, they are time-bound and one can plan on when to move in and out of those areas. In addition, he said that the road network gives one easy access to different locations as one can connect to a place through many different routes.
“For us in the real estate business, the Federal Capital Territory Administration (FCTA) has been able to encourage us by providing legitimate land for building constructions and even when one buys from an individual, a search can be done easily at the lands registry-AGIS to determine the authenticity of the land” he enthused. He also pointed out the social benefits of investing in Abuja, stating that the residents of Abuja are more exposed and educated. He added that there is a social connection among the residents which brings about trust as most people have a reputation to protect.
Furthermore, Dr. Akin Fagbemi explained that proximity to policy makers is an added advantage in investing in Abuja as people can have access to their representatives in the National Assembly who can formulate and influence policies for the benefit of the people. He went on, “also, the presence of most of the embassies and High Commissions makes for easier international business transactions and Public Private Partnerships, unlike businesses in states”.
Another advantage of investing in Abuja according to Fagbemi is the closeness of Abuja to about 5 States of the Federation. “Most of these States are agriculturally developed States and daily offload most of their farm produce in Abuja, thus making food reasonably cheaper here, thereby, boosting the economy of the Federal Capital Territory”. He said.