Due to an Aggressive Revenue Campaign, we Collected Over 40 Billion in FCT in December, Says Wike

The Minister of the Federal Capital Territory (FCT), Nyesom Wike, has disclosed that the FCT generated over N40 billion in December 2024, a result of his proactive revenue enhancement initiatives. Wike noted that since he took office in August 2023, the FCT has experienced a significant increase in revenue generation, rising from approximately N10 billion per month to an average of N25 billion. In a media briefing on Sunday evening, Wike credited this revenue growth to the collection of ground rents and the payment of Certificates of Occupancy (C of O) by land allottees. He stated: “We do not receive up to N13 billion from VAT and the 1% allocation from the Federal Government. Therefore, we must supplement our Internally Generated Revenue (IGR) to meet salary obligations due to the new wage structure.” “When I assumed office, we were generating around N9 billion to N10 billion. Today, by the grace of God, our monthly revenue is not less than N25 billion.” “This achievement is due to our vigorous revenue initiatives. In fact, last month, we managed to generate over N40 billion. Such aggressive revenue efforts are essential for infrastructure development.” “It is imperative that this revenue comes from taxes, and without tax compliance, how can we achieve development?” he questioned. “Can you, in good conscience, assert that the FCT is justifying the revenue or taxes you are contributing? Yes, it is true that we can enhance our tax collection, but it remains insufficient.”