One Punjabi regularly cycling near a capital (5)
I believe the answer is:
abuja
'capital' is the definition.
(capital of Nigeria)
'one punjabi regularly cycling near a' is the wordplay.
'one' becomes 'a'.
'regularly' indicates alternate letters (regularly take one letter, leave next etc.).
'cycling' indicates anagramming the letters.
'near' is a charade indicator (letters next to each other).
The alternate letters of 'punjabi' are 'ujb'.
'ujb' is an anagram of 'buj'.
'a'+'buj'+'a'='ABUJA'
(Other definitions for abuja that I've seen before include "African city" , "Federal capital of Nigeria" , "Nigerian capital" .)