FCT IGR jumps from N9 billion to over N40 billion monthly in three years, Wike reveals
By Aboki Forex —
The Minister of the Federal Capital Territory, Nyesom Wike, has announced that the FCT's monthly internally generated revenue has risen from N9 billion to over N40 billion in three years. He made the disclosure during his monthly media chat in Abuja on Thursday, July 9.
TSA removal unlocked revenue growth
Wike attributed the sharp increase to the Federal Government's decision to remove the FCT Administration from the Treasury Single Account. He described the move as a major enabler of the administration's development agenda. “Remember, when we came on board, our IGR was mere N9 billion a month. But as I speak to you today, we have been able to improve up to over N40 billion,” Wike said.
He added: “So, when people now say FCT is working, it’s working because somebody has made it to work by pulling you out of that TSA. And if that was not done, no matter whatever you say, it would have been difficult. And we must give it to Mr President for having that eye to see that this is an impediment.”
Focus on completing abandoned projects
The minister also defended his administration's extensive road construction programme, calling transport infrastructure the foundation for economic growth in the FCT. He explained that the administration prioritised completing abandoned projects before starting new ones. Many of the roads commissioned over the past three years had been left unfinished for more than a decade, he said.
“It is not about awarding contracts; it’s about making sure that the jobs are being done based on the resources you have. One thing I have found out is when residents rejoice that contract has been awarded, they get bitter when they have not seen anything pertaining to the award,” Wike stated. “I can tell you that 70% of the projects we have done in the past three years are projects that were awarded 15 years, 16 years ago, abandoned.”
He noted that the president said the administration cannot abandon road projects but must also carry out new ones. The minister said the administration deliberately prioritised completing long-abandoned projects to improve infrastructure delivery while initiating new developments across the FCT.
Record IGR in 2024 and plans for more
Wike had in March 2025 vowed to aggressively pursue revenue collection through taxes and ground rent payments in the FCT to fund impactful infrastructure projects. He disclosed that the FCT generated a record N262 billion in IGR in 2024. The minister said the FCT Administration would intensify the collection of taxes and ground rent within the limits of the law to sustain infrastructure development. He also appealed to residents to comply with their tax obligations, stressing that improved revenue collection would translate into better public services and infrastructure.
Sustained revenue growth remains critical to financing ongoing and future development projects across the Federal Capital Territory, Wike maintained.
For Nigerian businesses and residents, the jump in FCT IGR signals improved capacity for the administration to fund infrastructure without heavy reliance on federal allocations. However, the push for higher tax and ground rent collections means businesses and property owners in Abuja should expect more stringent enforcement of payment obligations.