Minister of the Federal Capital Territory (FCT), Nyesom Wike, has revealed that VIP property owners in Abuja owe more than ₦300 billion in debts related to Certificates of Occupancy (C of O).
Wike made this disclosure during a media briefing at his official residence in Life Camp, Abuja, on Sunday night. The minister explained that these debts are part of the broader challenges facing the FCT’s financial system.
Since assuming office in August 2023, Wike has implemented a vigorous revenue collection strategy to address these financial issues and improve infrastructure development in the capital.
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.
