The Minister of the Federal Capital Territory (FCT), Nyesom Wike, has announced a dramatic increase in the territory’s internally generated revenue from ₦9 billion to ₦30 billion monthly since assuming office in August 2023.
Wike attributed the sharp rise to a series of bold reforms aimed at plugging revenue leakages, recovering outstanding payments, and revoking underutilized land allocations.
“Now, we are hitting ₦30 billion monthly,” Wike said during a recent interview. He noted that the enforcement of ground rent payments and aggressive debt recovery strategies were central to the revenue growth.
According to the Minister, the boost in funding has been instrumental in driving major infrastructural upgrades across the FCT, including road rehabilitation, school improvements, and enhanced security measures initiatives made possible under the leadership of President Bola Ahmed Tinubu.
Wike’s financial overhaul is being hailed as a turning point for Abuja’s economic stability and a bold statement of accountability and reform.
