The Federal Capital Territory (FCT) Minister, Nyesom Wike, has disclosed that VIP property owners in Abuja owe over ₦300 billion in unpaid Certificates of Occupancy (C of O) fees.
Speaking during a media parley at his official residence in Life Camp, Abuja, on Sunday night, Wike highlighted the significant revenue gaps caused by these debts.
He emphasized that his administration’s aggressive revenue drive has led to remarkable financial improvements since he assumed office in August 2023.
According to the minister, monthly revenue collections for the FCT have increased from approximately ₦9 billion to an average of ₦25 billion. In December 2024 alone, the FCT generated over ₦40 billion.
Wike attributed this revenue growth to stricter enforcement of ground rent collections and payments for C of O by landowners. He reiterated that these measures are crucial for sustaining development in the capital city.
The minister also revealed that the FCT government spends ₦13 billion monthly on salaries, underscoring the importance of maintaining a robust revenue base to meet financial obligations and fund ongoing projects.
Wike said: “We don’t get up to N13bn from VAT and the 1% from the Federal Government. So, we have to augment 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,” he added.
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