FCT Monthly IGR Rises from N9bn to Over N40bn Under Tinubu, Says Wike

The Minister of the Federal Capital Territory (FCT), Nyesom Wike, has disclosed that the Federal Capital Territory Administration (FCTA) has increased its monthly Internally Generated Revenue (IGR) from **N9 billion to over N40 billion** within three years, attributing the remarkable growth to fiscal reforms introduced by the administration of President Bola Ahmed Tinubu.

Speaking during his monthly media chat in Abuja on Thursday, Wike said the decision by the Federal Government to remove the FCTA from the Treasury Single Account (TSA) had provided the financial flexibility needed to boost revenue generation and accelerate infrastructure development across the nation’s capital.

According to the minister, the policy change eliminated a major bottleneck that had previously constrained the territory’s ability to effectively deploy its internally generated funds for development projects.

“Remember, when we came on board, our IGR was a mere N9 billion a month. But as I speak to you today, we have been able to improve it to over N40 billion,” Wike said.

He credited President Tinubu for approving the FCT’s exit from the TSA, describing the move as a bold decision that has transformed the administration’s financial capacity.

“So, when people now say the FCT is working, it is working because somebody made it work by pulling you out of that TSA. If that was not done, no matter whatever you say, it would have been difficult. We must give it to Mr President for having that foresight to see that this was an impediment,” he added.

The minister also defended the administration’s aggressive investment in road infrastructure, stressing that transportation remains the backbone of economic growth, investment and urban development in the Federal Capital Territory.

Wike explained that rather than merely announcing new projects, his administration adopted a strategy of completing abandoned projects before embarking on fresh ones, noting that many of the roads inaugurated over the past three years had remained unfinished for between 15 and 16 years.

“It is not about awarding contracts; it is about ensuring that the jobs are executed based on the resources available. Residents may celebrate the award of contracts, but they become disappointed when they do not see work progressing. I prefer embarking on projects that can be completed within the available timeframe and resources,” he said.

According to him, about 70 per cent of the projects executed by the current administration were inherited from previous administrations after being abandoned for more than a decade.

“I can tell you that 70 per cent of the projects we have completed in the last three years were awarded 15 or 16 years ago and abandoned. If we had ignored them, people would still be asking why those projects remained abandoned even if we initiated new ones,” the minister stated.

Wike said the administration deliberately prioritised completing legacy projects while simultaneously initiating new infrastructure to ensure balanced development across the FCT.

The latest disclosure comes months after the minister announced that the FCT recorded a historic N262 billion in internally generated revenue in 2024.

In March 2025, Wike vowed to intensify the collection of taxes, ground rents and other statutory revenues within the ambit of the law to sustain the territory’s infrastructure development programme.

He urged residents and property owners to fulfil their tax and ground rent obligations, maintaining that stronger revenue mobilisation would enable the administration to provide better roads, public services and other critical infrastructure needed to support the rapid growth of the Federal Capital Territory.

The minister reiterated that sustained growth in internally generated revenue remains central to financing ongoing and future development projects without overreliance on federal allocations, adding that the administration would continue to strengthen revenue collection while ensuring prudent utilisation of public funds.