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| FCT Minister, Barr Nyesom Wike fielding questions from journalists during his monthly media parley in Abuja on Thursday |
FCTA
PRESS RELEASE
FCT MINISTER ATTRIBUTES UNPRECEDENTED INFRASTRUCTURAL BOOM TO FCTA’s EXIT FROM TSA
…SAYS FCT’S
REVENUE BASE HAS JUMPED FROM N9 BILLION TO N40 BILLION
The Minister of the
Federal Capital Territory (FCT), Barr.
Ezenwo Nyesom Wike has credited the administration's strategic exit from the Treasury
Single Account (TSA) as the primary catalyst driving the ongoing
infrastructural renaissance in the nation's capital.
Speaking during his media
parley on Thursday, July 9,
2026, the Minister said this bold fiscal
reform, swiftly approved by President Bola Ahmed Tinubu, GCFR, has
fundamentally transformed the FCTA’s financial capacity, turning Abuja into a
massive construction hub that is delivering rapid, community-driven development
across the city centre and FCT Area Councils.
Noting that the strict
limitations of the TSA previously choked the territory's ability to fund
large-scale projectsthe Minister said the policy shift has allowed the administration
to successfully utilized its Internally Generated Revenue (IGR) as
collateral to secure commercial funding for rapid project execution.
"Mr. President sees governance as a business, and that is why he
pulled us out of the TSA for the development of the FCT. When we had funds with the CBN, we had no access to borrow from
commercial banks. That was a major impediment for us. Now, I can go to
commercial banks to borrow money for infrastructure projects, using our
Internally Generated Revenue (IGR) as collateral. Now the jobs are going on," the Minister stated.
Barr. Wike further
disclosed that the newfound financial autonomy and the strict institutional blocks on
frivolous spending and leakages has yielded immediate and staggering
economic results with the
administration’s revenue base multiplying exponentially from N9 billion in 2023
to approximate N40 billion in 2026.
"When we came on board, our IGR was a mere N9 billion a month. As I
speak to you today, our IGR is about N40 billion. These are the benefits of
exiting the TSA", the Minister
noted, adding that the administration has also radically restructured the
territory's budget and flipped
its spending ratio from 65 percent recurrent expenditure to a robust 75 percent capital
expenditure.
Noting that this massive
injection of capital is directly responsible for the spectacular 31-day
commissioning calendar currently underway, the Minister also stressed that the reliable cash flow has
allowed the FCTA to clear backlogs owed to competent local contractors and foreign contractors, ensuring that both
old and new projects are completed on schedule.
He also explained
that the administration has strongly prioritized technical capacity and competence, rather than focusing solely on local content in
the selection of both local and foreign contractors handling FCTA projects.
Addressing questions on whether the focus of the FCT administration on road networks, the Minister
clarified that while road infrastructure remains foundational to establishing
hospitals, schools, and markets, development is evenly spread across critical
sectors.
He said the FCT
Administration has funded critical multi-sector interventions, including the recent commissioning of the Karu Water Scheme by Vice President, Kashim Shetima, the upcoming Bwari
Water Scheme, the renovation of over 120 schools, and the re-awarding of long-abandoned
hospital projects in Gwagwalada and Gwarimpa.
With unprecedented investments being poured into the city's
infrastructure, the Minister issued a stern warning that the FCTA will fiercely
protect these new assets from abuse. He declared a zero-tolerance policy for indiscipline and announced the deployment of a task force to clear hoodlums and illegal
roadside markets. "Government cannot build roads today, and the next
day it’s a market, and you try to justify it that they are looking for how to
survive. We will not allow that", he declared.
Additionally, the Minister
disclosed that the FCTA has reclaimed parks and gardens that violated land use laws by
converting green areas into commercial hotels and residential buildings, adding that a strict "develop-or-lose"
policy has also been implemented in the mass housing sector to curb land
speculation and the unauthorized sale of unallocated land.
“We have taken back all our parks and
gardens. If you want to have it, come and apply and we give you the conditions.
Anybody who says he wants parks and garden must apply appropriately and you
will have ministerial approval, not where the director of parks and garden will
enter into agreement with you and government does not know”, the Minister
explained.
Barr. Wike who also addressed the recent political
allegations connecting the Chief of Staff to the President, Rt. Hon. Femi
Gbajabiamila, to a fictitious government agency, described the claims as "rubbish" and
"madness."
Barr Wike, stated that from his knowledge of the personality of Hon Femi
Gbajabiamila, it was very unlikely that he was involved in it. He further
revealed that the easiest way to embarrass any government was to target the
Chief of Staff.