FCT Minister Attributes Unprecedented Infrastructural Boom To FCTA’s Exit From TSA
…SAYS FCT’S REVENUE BASE HAS JUMPED FROM N9 BILLION TO N40 BILLION
The Minister of the Federal Capital Territory (FCT), Barr. Ezenwo Nyesom Wike has credited the administration’s strategic exit from the Treasury Single Account (TSA) as the primary catalyst driving the ongoing infrastructural renaissance in the nation’s capital.
Speaking during his media parley on Thursday, July 9, 2026, the Minister said this bold fiscal reform, swiftly approved by President Bola Ahmed Tinubu, GCFR, has fundamentally transformed the FCTA’s financial capacity, turning Abuja into a massive construction hub that is delivering rapid, community-driven development across the city centre and FCT Area Councils.
Noting that the strict limitations of the TSA previously choked the territory’s ability to fund large-scale projectsthe Minister said the policy shift has allowed the administration to successfully utilized its Internally Generated Revenue (IGR) as collateral to secure commercial funding for rapid project execution.
“Mr. President sees governance as a business, and that is why he pulled us out of the TSA for the development of the FCT. When we had funds with the CBN, we had no access to borrow from commercial banks. That was a major impediment for us. Now, I can go to commercial banks to borrow money for infrastructure projects, using our Internally Generated Revenue (IGR) as collateral. Now the jobs are going on,” the Minister stated.
Barr. Wike further disclosed that the newfound financial autonomy and the strict institutional blocks on frivolous spending and leakages has yielded immediate and staggering economic results with the administration’s revenue base multiplying exponentially from N9 billion in 2023 to approximate N40 billion in 2026.
“When we came on board, our IGR was a mere N9 billion a month. As I speak to you today, our IGR is about N40 billion. These are the benefits of exiting the TSA”, the Minister noted, adding that the administration has also radically restructured the territory’s budget and flipped its spending ratio from 65 percent recurrent expenditure to a robust 75 percent capital expenditure.
Noting that this massive injection of capital is directly responsible for the spectacular 31-day commissioning calendar currently underway, the Minister also stressed that the reliable cash flow has allowed the FCTA to clear backlogs owed to competent local contractors and foreign contractors, ensuring that both old and new projects are completed on schedule.
He also explained that the administration has strongly prioritized technical capacity and competence, rather than focusing solely on local content in the selection of both local and foreign contractors handling FCTA projects.
Addressing questions on whether the focus of the FCT administration on road networks, the Minister clarified that while road infrastructure remains foundational to establishing hospitals, schools, and markets, development is evenly spread across critical sectors.
He said the FCT Administration has funded critical multi-sector interventions, including the recent commissioning of the Karu Water Scheme by Vice President, Kashim Shetima, the upcoming Bwari Water Scheme, the renovation of over 120 schools, and the re-awarding of long-abandoned hospital projects in Gwagwalada and Gwarimpa.
With unprecedented investments being poured into the city’s infrastructure, the Minister issued a stern warning that the FCTA will fiercely protect these new assets from abuse. He declared a zero-tolerance policy for indiscipline and announced the deployment of a task force to clear hoodlums and illegal roadside markets. “Government cannot build roads today, and the next day it’s a market, and you try to justify it that they are looking for how to survive. We will not allow that”, he declared.
Additionally, the Minister disclosed that the FCTA has reclaimed parks and gardens that violated land use laws by converting green areas into commercial hotels and residential buildings, adding that a strict “develop-or-lose” policy has also been implemented in the mass housing sector to curb land speculation and the unauthorized sale of unallocated land.
“We have taken back all our parks and gardens. If you want to have it, come and apply and we give you the conditions. Anybody who says he wants parks and garden must apply appropriately and you will have ministerial approval, not where the director of parks and garden will enter into agreement with you and government does not know”, the Minister explained.
Barr. Wike who also addressed the recent political allegations connecting the Chief of Staff to the President, Rt. Hon. Femi Gbajabiamila, to a fictitious government agency, described the claims as “rubbish” and “madness.”
Barr Wike, stated that from his knowledge of the personality of Hon Femi Gbajabiamila, it was very unlikely that he was involved in it. He further revealed that the easiest way to embarrass any government was to target the Chief of Staff.
“Without prejudice, I know the Chief of Staff very well. He did not do it. if you want to embarrass any government, these are the targets, the Chief of Staff and the Secretary to government. Does it make sense that an agency that does not exist, he will tell him to give him so, so amount of money. Its madness. If the young man (Prince Mathew Adeniyi) knows that its correct, why is he running away. How can you come out to make such a statement and then you run away”? the Minister queried.
Barr. Wike also rejected calls from opposition figures demanding to join the independent probe panel set up by President Tinubu, labeling their criticisms as political theatre. He urged the public to disregard the political noise and allow the formal investigation panel to conclude its work.
