By Patrick Idowu
The Minister of the Federal Capital Territory (FCT), Nyesom Wike, has revealed that property owners in Abuja owe over N300 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 improvement in the FCT’s revenue generation since his assumption of office in August 2023.
He disclosed that the FCT’s monthly revenue has risen from approximately N9 billion to an average of N25 billion, with a record-breaking N40 billion generated in December 2024 alone.
This surge, he explained, is due to an aggressive revenue drive, particularly in the collection of ground rents and payments for Certificates of Occupancy.
Wike emphasized the necessity of tax compliance to sustain infrastructure development, noting that the FCT receives less than N13 billion from Value Added Tax (VAT), and 1% federal allocation, making internally generated revenue crucial.
“We have to augment internally generated revenue to pay salaries because of the new wages,” he stated. “When I assumed office, we were generating about N9 billion monthly. Today, we generate no less than N25 billion, and in December, we reached about N40 billion.”
The minister questioned whether Abuja residents were satisfied with the level of development relative to the taxes they pay.
He reiterated his administration’s commitment to improving infrastructure but acknowledged that more effort is needed.
“Development must come from taxes, but when taxes are not paid, how do we achieve this?
“Can we confidently say the FCT is justifying the taxes you pay? We are making progress, but it is not enough,” he asked.
Wike reaffirmed his dedication to ensuring efficient revenue utilization for the capital’s growth and development.
