The Federal Capital Territory (FCT) Minister, Nyesom Wike, has disclosed that debts owed by property owners for Certificates of Occupancy (C of O) in the FCT exceeded ₦300 billion before measures were taken to ensure compliance with payments.
Wike made the revelation during a media parley at his official residence in Life Camp, Abuja, on Sunday night.
The minister explained that upon assuming office in late 2023, the FCT’s monthly revenue stood between ₦9 billion and ₦10 billion. However, he noted that the administration has achieved significant progress, with current monthly revenue averaging ₦25 billion and exceeding ₦40 billion in some months.
“When I came, we were generating about ₦9 to ₦10 billion monthly. Today, we are not generating less than ₦25 billion. In fact, last month, we were able to generate over ₦40 billion,” Wike stated.
He emphasized the critical role of taxes and ground rents in funding the administration’s projects and urged residents to assess the visible impact of their contributions.
Read also: Dangote Refinery explains petrol price hike amid rising global crude costs
“The question residents should ask is whether they are seeing their money working for them. Yes, we are justifying that,” Wike affirmed.
Wike revealed that the arrears related to Certificates of Occupancy alone amount to over ₦300 billion. He stressed the potential transformation such funds could bring to the FCT.
“When we calculated money owed by people—not ground rent, but C of O—it was over ₦300 billion. If we see ₦300 billion today, you can go to America and come back in six months, and you will see that the FCT is a totally different place,” he said.
The minister expressed disappointment that many individuals who receive land allocations fail to pay the required fees to regularize their titles.
He added that the administration is committed to ensuring accountability and improving the FCT, with a focus on enhancing infrastructure and services to justify residents’ contributions.
