Wike Boosts FCT Collectibles by 177% as IGR Surges from ₦9bn to ₦25bn in 19 Months

In a demonstration of fiscal reform and administrative drive, the Federal Capital Territory (FCT) under the leadership of Minister Nyesom Wike has recorded a remarkable 177% increase in internally generated revenue (IGR), growing from ₦9 billion to ₦25 billion monthly within a span of 19 months.

This growth, described as unprecedented by financial analysts and government observers, is the result of a robust revenue mobilization framework introduced by Wike shortly after assuming office in August 2023.

Speaking at a recent media briefing in Abuja, Wike attributed the surge to the administration’s aggressive strategies targeting land administration, improved ground rent collection, and streamlined issuance of Certificates of Occupancy (C of Os).

“We made it clear that we must be self-sustaining. With our wage bill running at about ₦13 billion monthly, we cannot continue to rely solely on federal allocations,” Wike stated.

In December 2024 alone, the FCT hit a record high with ₦40 billion in revenue—an indication of the territory’s growing financial independence and potential. However, Wike emphasized that this is just the beginning. “We’ve identified over ₦300 billion in unpaid C of O fees from land allottees. If recovered, that would change the face of Abuja completely,” he added.

The minister also noted that the FCT could potentially generate as much as ₦300 billion monthly if all stakeholders comply with their obligations. He urged residents and property owners to respond positively to payment requests, noting that a digitized and transparent system is now in place to ease the process.

Economic experts have praised the administration’s approach, citing it as a model for other states in the country seeking to improve their IGR without overburdening citizens.

The revenue uptick is expected to support major infrastructure projects, urban renewal efforts, and enhanced public services across the territory.

As the FCT continues to expand and modernize, Wike reaffirmed his commitment to ensuring financial sustainability and accountability in line with the Renewed Hope agenda of President Bola Ahmed Tinubu.