Wike Highlights Sharp Rise in FCT Revenue
Nyesom Wike says reforms have increased the FCT’s monthly internally generated revenue from ₦9 billion to over ₦40 billion.
FCT Internally Generated Revenue has increased from about ₦9 billion to more than ₦40 billion monthly, according to Nyesom Wike.
Federal Capital Territory (FCT) Minister Nyesom Wike says the FCT Internally Generated Revenue has risen from about ₦9 billion to more than ₦40 billion each month since he assumed office. Speaking during an interview in Abuja on Thursday, Wike attributed the increase to reforms aimed at improving revenue collection and eliminating financial leakages.
According to the minister, the significant growth in FCT Internally Generated Revenue resulted from deliberate measures to strengthen the administration’s financial system. He explained that his government focused on blocking revenue leakages while intensifying the collection of land-related payments, including ground rents and Certificates of Occupancy.
Wike said the increase in revenue has provided the FCT Administration with the financial capacity to execute infrastructure projects and improve public services across the nation’s capital.
He stated, “When we came on board, our IGR was a mere ₦9 billion a month, but as I speak to you today, we’ve been able to improve it to forty-something billion. So when people now say, ‘Oh, FCT is working, FCT is working,’ it’s working because somebody has made it to work.”
The minister maintained that the revenue growth did not happen by chance but was the result of policy reforms and administrative actions introduced after he assumed office. He added that the stronger financial position has enabled the administration to continue funding development projects across Abuja.
Wike also stressed that effective leadership, accountability and prudent management of public resources remain essential for achieving meaningful progress in government. He said the transformation in FCT Internally Generated Revenue demonstrates what focused leadership and sustained reforms can accomplish in improving public sector performance.
What other reforms do you think could further increase internally generated revenue without placing extra pressure on residents?
Comments are closed.