We generated over 40billion in FCT in December because of aggressive revenue drive – Wike | READ DETAILS
The Minister of the Federal Capital Territory (FCT), Nyesom Wike, has revealed that the FCT generated over N40billion only in December 2024 owing to his aggressive revenue drive.
According to Wike, since his inception in August 2023, the FCT has witnessed a shoot in revenue generation, from about 10billion per month, to an average of N25billion.
Speaking to the media on Sunday evening, Wike attributed the growth in revenue to the collection of ground rents and payment of Certificates of Occupancy (C of O) by land allottees.
In his words:
“We don’t get up to N13bn from VAT and the 1% from the Federal Government. So, we have to augment from the IGR to be able to pay the salaries because of the new wages”.
“As at the time I came, we were generating about N9bn to N10bn. Today, by the grace of God, we are not generating less than N25bn a month.
“It is because of our aggressive revenue drive. In fact, last month, we were able to generate about 40 something billion naira. Aggressive revenue drive to be able to carry out infrastructure
“It must be from taxes and when taxes are not paid how do we get development?” he asked.
“In your conscience, can you say that the FCT is justifying the revenue or the taxes you are paying? Yes, it is correct. We can beat our taxes to say we are doing that but it is not enough”.
