Posted by Nyesom Wike, the minister of the Federal Capital Territory (FCT), has reiterated the administration’s pledge to finish all major projects in the territory as soon as feasible.
While examining several ongoing developments in the city, Wike made the affirmation. The Vice President’s official residence, Highways B12, B6, Circle Road, Abuja Central Area, and the soon-to-be-completed Southern Parkway are among the projects.
The minister praised the contractors for the caliber and speed of work on the projects, and reassured them that the necessary money would be made available to guarantee that the projects were finished by May 2024.
Speaking at the Vice President’s official mansion, which Julius Berger is building, Wike stated: “You assured us that you would finish this project in seven to eight months. Despite not being mobilized, you have demonstrated care by working.
It is quite significant and demonstrates your faith in us. I promise that we will have you mobilized by December. After then, in order to finish before May 29, 2024, you must work quickly.
“I think you’re capable of accomplishing it. In my opinion, waiting is unnecessary as well. Knowing my past, you are aware that I never make promises I can’t keep.
“Now that I have the backing of the President and Vice President, I can instruct you to move forward and finish the task at hand in order to accomplish this and put an end to the reports of abandoned properties.” That will no longer exist. Your workforce demonstrates your seriousness, so proceed with confidence and we will provide the necessary funding for you to mobilize.
The Minister emphasized that the FCTA will continue to fund the projects inspected and stated that he has the President’s support in identifying important projects that can be completed in a year.
Wike bemoaned the rising expense of carrying out projects that were awarded years ago but were shelved, claiming that this cost increase was severely taxing the FCTA’s funds and impeding the capital city’s expansion.
“Observe the Vice President’s mansion, which was granted in 2010 at an expense of N7 billion,” he declared. That endeavor was shelved. And we’ve given Julius Berger a call back to ask, “Look, can you finish this project within eight months?” They replied in the affirmative, although it is clear that they cannot continue at the same expense.
“A 2010 N7 billion project that was granted was shelved due to a lack of funds. Considering the cost of constructing materials, they stated they could not complete the project for less than N15 billion. We have assured them that we will provide funding before the end of the month to enable them to complete it.
“In my opinion, we are pleased that the President’s pledges of restored hope have materialized. Abuja residents are praising Mr. President and feeling newfound optimism for this nation as they witness abandoned projects getting completed.
Regarding project finance, the minister stated that while the administration is aiming to increase internally generated revenue (IGR), the FCTA does not solely rely on the federation account.
In his own words: “We have performed extremely well in terms of IGR as I speak to you today, and these funds would be tied to specific projects so that there is no excuse to argue there is not enough money to carry out the projects. For instance, we have now submitted the budgets for a few projects for 2023, and the President has pledged to forward them to the National Assembly.
We are requesting permission to spend N61 billion before 2024 because we have the funds and want to use them to carry out particular projects that will be finished by May 29. After that, we will take on other projects for 2024. So rest assured that we won’t give up on any of the projects we’ve undertaken.
According to Wike, there are more projects that follow this same line. When the Millennium Towers are finished, he claims that they would transform not only the Abuja scenery but also the region’s economy.
All of the contractors promised to complete their jobs before the deadline.