Minister Nyesom Wike reveals the financial sources supporting major development projects in the Federal Capital Territory, aiming for transparency and accountability. Discover the details of his funding strategy.
Nyesom Wike, the Minister of the Federal Capital Territory (FCT), stated that Internally Generated Revenue (IGR) is the sole source of funding for projects in the nation’s capital.
Wike stated that this has been the sole method through which the FCT Administration could finance numerous projects in both the city center and area councils.
The minister stated that the FCT Administration primarily depends on internally generated revenue (IGR) and exercises careful management of available resources. He emphasized the importance for residents to fulfill their tax obligations.
During a routine inspection of ongoing projects in the FCT, the minister discussed the comprehensive development of the 11km stretch known as FCT Highway 105 or Kuje Highway. This section extends from Airport Expressway to Kuje Junction, with an additional spur at Kyami.
The minister also reviewed the rapid construction of a 5-kilometer township road in Kuje, stretching from the Garage Junction to the LEA Secretariat within the Kuje Area Council.
He reaffirmed the FCT Administration’s dedication to developing infrastructure in accordance with the President’s Renewed Hope Agenda.
Wike also emphasized that the road projects would include streetlights, noting that this development would significantly alter the area’s topography.
“It’s about strategic planning and wisely managing the available resources. No government or institution can claim to possess all the necessary resources for every service,” he stated.
The FCT Minister emphasized the importance of ensuring tax compliance, stating: “What matters to us is making sure people pay their taxes. Nigerians are more willing to fulfill this obligation when they see that their contributions are being effectively utilized. However, there’s hesitation in paying taxes if there’s no visible impact from those payments.”
“We are making every effort to consistently boost our IGR, as it is the sole source of funding we use for payments. No other funds are coming in from any external sources.”
Once more, we limit the number of projects and make sure that substantial progress has been made before initiating additional ones. We also ensure funding is secured to prevent any project from being abandoned.
“It’s not that we have an abundance of money; we’re simply striving to manage our resources wisely and use them in the best interest of our people.”
Peoplesmind
ADVERTISEMENT
ADVERTISEMENT
Wike Discloses Funding Sources for FCT Development Projects
ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT
