Federal Capital Territory ( FCT) Minister, Nyesom Wike has said that his aggressive revenue drive in Abuja has brought the nation’s capital out of economic doldrums, as he now generates twenty five million naira ( N25m) as against Nine billion naira, FCT was generating before.
Wike who disclosed this during his live media chat on Sunday night, monitored on some national television, attributed the feat to the support he has continued to receive from President Bola Tinubu.
The Minister noted that only in December 2024, the administration generated the sum of ₦40bn.
He stated that the growth in revenue collection was made possible by payment of ground rents and that of Certificates of Occupancy (C of O) by land allottees.
He further disclosed that his administration was religiously driving the policies for revenue generation, because it needs funds to pay workers salaries and also meet the demands for infrastructural development.
According to him, “the FCT pays salaries to the tune of N13bn every month. We don’t get up to N13bn from VAT and the 1% from the Federal Government. So, we have to augment with the IGR to be able to pay the salaries because of the new wages.
“As at the time I came, we were generating about N9bn to N10bn. Today, by the grace of God, we are not generating less than N25bn a month.
“It is because of our aggressive revenue drive. In fact, last month, we were able to generate about 40 something billion naira. Aggressive revenue drive to be able to carry out infrastructure
“It must be from taxes and when taxes are not paid how do we get development?”
“In your conscience, can you say that the FCT is justifying the revenue or the taxes you are paying? Yes, it is correct. We can beat our taxes to say we are doing that but it is not enough,” he added.
Wike further disclosed that the nation’s capital has the potential to generate up to ₦300bn monthly revenue if land allottees fulfil their obligations.
