FCT's N1.28trn 2024 Statutory Budget Will Bring Significant Revolution In Infrastructure - Wike | Independent Newspaper Nigeria

2024-04-02 21:26:26

Independent Newspapers Nigeria

ABUJA - The Minister of the Federal Capital Territory (FCT), Nyesom Wike, has expressed confidence that the FCT's N1.28 trillion 2024 statutory budget will bring about a significant revolution in infrastructure provision in the nation's capital.

During a media chat with journalists in Abuja, he emphasized that the budget would prioritize not only road networks but also healthcare, education sectors, and the Abuja metro line, among other projects.

Wike revealed that 70 percent of the budget has been allocated to capital expenditure, with 58 percent of that earmarked for completing ongoing projects and 42 percent for new projects. Notably, the rehabilitation of 21 schools in deplorable conditions across the six Area Councils and the upgrade of Utako, Gwagwalada, and Gwarimpa General Hospitals are among the projects to receive priority.

Regarding financing, the Minister disclosed that the FCT's withdrawal from the Treasury Single Account (TSA) has enabled the Administration to source funds from the financial market using its Internally Generated Revenue (IGR). This approach aims to address delays in project completion and restore contractors' confidence.

Wike emphasized that contractors are fully committed to completing projects scheduled for completion by May, including the Southern Parkway, Wuye Interchange, and Outer Southern Expressway.

In efforts to improve security, the FCT plans to establish a special response squad comprising a joint team from various security agencies, equipped with technology to tackle crime effectively.

Additionally, measures such as installing CCTV cameras and deploying drones are being considered to enhance surveillance and proactive security measures in the capital.

Addressing land matters, Wike assured ongoing efforts to sanitize land administration, dismissing allegations of vindictiveness and warning against ethnic colorations in FCTA actions. He emphasized disciplinary actions against staff found guilty of perpetrating land fraud.

While touching on political matters in his home state of Rivers, Wike reiterated his focus on his duties as FCT Minister, prioritizing infrastructure development and effective governance in the capital.

2024-04-02 News