Nyesom Wike, Minister of the Federal Capital Territory (FCT), has announced that the FCT administration has recorded a 95% budget performance for 2024, expressing satisfaction with the level of implementation of its fiscal plans.
Wike stated this after he inspected some ongoing projects in Abuja on Monday. The Minister, while commending the quality of ongoing projects across the territory, disclosed that the FCT’s 2025 statutory budget has been submitted to the National Assembly.
He expressed optimism that its timely passage would facilitate the seamless continuation and completion of critical infrastructure projects within the FCT, BusinessDay reports.
According to him, “I can tell you we’ve done not less than 95 percent of the budget implementation. That is historic. It has never happened before. And if you look at the projects there, you will see that there is no project that is in the 2024 budget that we have not touched.”
The Minister explained that the extension of the FCT’s 2024 statutory budget by the National Assembly until June 2025 has been instrumental in allowing the FCT Administration to adequately fund and make great progress on ongoing projects.
Wike expressed satisfaction with the quality and pace of ongoing infrastructure projects in the FCT, noting that the administration remains on track with its 2024 budget implementation.
“Frankly speaking, we are very impressed with what we have seen. The quality of the work is commendable, and we are right on schedule,” Wike said. “The contractors are meeting expectations, and we are fulfilling our obligations by ensuring timely payments to avoid any delays on site.”
He particularly lauded the near-completion of the AICC rehabilitation, describing the transformation as remarkable. “Anyone who saw the centre before will be impressed by the progress made,” he added.
Wike announced that the N16 Interchange will be completed and inaugurated by President Bola Tinubu in May as part of activities marking his second year in office.
He also disclosed that the N5 road project will be ready by the end of May.
The minister noted that these projects are being funded under the 2024 statutory budget, which will remain in effect until the end of June.
He further revealed that the 2025 FCT Statutory Budget has already been transmitted to the National Assembly and will be defended once the lawmakers return from recess.
“This is unprecedented. Every project captured in the 2024 budget has been initiated,” Wike affirmed.
Among the projects inspected were the renovation of the Abuja International Conference Centre (AICC) and the extension of Obafemi Awolowo Way (N5) from Life Camp Junction to Ring Road III. The minister also assessed progress on the Gishiri village road network in Katampe District, as well as the N16 Interchange at NICON Junction, which is designed to link Maitama and Katampe Districts to Wole Soyinka Way.
