Single Treasury Withdrawal Empowers FCT’s Ambitious N1.28 Trillion Budget – Wike

The Minister of the Federal Capital Territory (FCT), Nyesom Wike, unveiled plans for the FCT’s groundbreaking N1.28 trillion statutory budget for 2024 for infrastructure development.

Mr Wike attributed the administration’s ability to finance this monumental budget to the withdrawal of the FCT from the Treasury Single Account (TSA) during the monthly Media Parley in Abuja on Tuesday.

He stated that this strategic decision has empowered the administration to tap into financial markets using its Internally Generated Revenue (IGR), a move set to revolutionise infrastructure provision in the FCT.

“The funds are now available, and the contractors are content because these funds have been allocated to various specific projects. It will create a situation where people will wonder what is going on,” he remarked.

“This strategy is what I used when I was Governor, and it has paid off… Contractors appreciate nothing more than knowing that funds are available. Before you know it, you have transformed the entire area. That is what is happening today in Abuja.”

He highlighted the transformative potential of the budget, with 70 percent earmarked for capital expenditure.

He suggested that the allocation underscores the administration’s commitment to addressing critical infrastructure needs and expediting project completion to benefit residents across the FCT.

Mr Wike reassured stakeholders of contractors’ dedication to completing key projects, including schools and hospitals, within specified timelines.

“Frankly speaking, it is going to revolutionise infrastructure as far as the FCT is concerned. Not only road networks but also health and education,” he emphasised.

He stressed that aligning completion targets with the President’s one-year milestone further illustrates the administration’s commitment to achieving concrete outcomes.

He reiterated that the budget prioritises investment in crucial sectors such as healthcare and education.

Rehabilitation initiatives for schools and hospitals across the FCT’s six Area Councils underscore the administration’s commitment to enhancing essential services and improving residents’ quality of life.

Security

Mr Wike reassured comprehensive security measures aimed at safeguarding residents. These include the establishment of a specialised response squad comprising a joint team from various security agencies, equipped with state-of-the-art technology to enhance surveillance and preempt criminal activities.

He explained that plans for the installation of CCTV cameras across the FCT are underway, signalling a concerted effort to bolster security infrastructure and ensure the safety of residents.

“We are also procuring drones for the security personnel who will man the Command-and-Control Centre. Having drones is key, so that you will be able to know when these bandits are moving in or out, enabling proactive action.”

Land grabbers

He emphasised ongoing efforts to streamline processes and combat fraud in land allocations within the territory.

He stated that the administration’s commitment to transparency and accountability underscores its determination to uphold the integrity of land management in the FCT.

“I have been doing this before. I will continue to do it. And nothing will happen,” adding, “Criminals are criminals. They may come in different guises.”

“I have never encountered people like land-grabbing individuals in this place. I received numerous petitions upon my arrival. One company submitted multiple petitions, with different property owners.

“I summoned all of them, accompanied by their lawyers – senior advocates. I asked, ‘what is this?’ Companies presented their cases individually. Company A, B, C, D, and E. I decided to seek advice from external solicitors. I refused to rely on internal advice… because the biggest (fraud) is that the land department has been compromised. I sought the views of senior lawyers and insisted that we needed to do things differently.

“This land that this so-called ethnic jingoist talked about was allocated when there was no minister. The minister left on May 29, 2023. By June, the land was allocated by the director of lands.”

“We all agreed that no action should be taken on the land until we reached a final decision. You know what happened? These individuals thought they were too clever and began selling the land.”

My focus is FCT

Mr Wike reiterated his unwavering focus on his responsibilities as FCT Minister.

He stated that his dedication to driving progress and development underscores his leadership ethos, centred on delivering tangible benefits to the nation’s capital.