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FCT receives N50 billion to finance ongoing projects

Written by Pyramid FM Kano

Minister of the Federal Capital Territory FCT, Nyesom Wike, has announced the receipt of N50B billion from the Ministry of Finance to finance ongoing capital projects in the nation’s capital, Abuja.

Wike had on assumption of office last year promised greater transparency in the management of FCT’s Treasury, saying residents would get value for money spent on projects.

According to him, the amount is 50 per cent of FCT’s N100 billion 2023 supplementary budget approved by the National Assembly late last year

The minister who disclosed this on Thursday in Abuja during an inspection tour of some ongoing projects in the FCT, said he has directed the Permanent Secretary to immediately make payments to the contractors handling the projects.

He said; “I am happy to announce to you that the Ministry of Finance has released 50 per cent of the National Supplementary Budget. That in a way, has given us the hope that the contractors will be paid anytime from now.

“We have also gotten assent to the FCT Statutory Budget, which again, has given us hope that no project will be left uncompleted as promised. As you can see, these are quality projects, which we are very satisfied with.

“We believe that the arrangements made by the contractors will enable us to commission the projects to celebrate Mr President’s one year in office”.

While he commended residents for their support, Wike expressed confidence that the projects would be delivered on schedule.

“We are happy with what we have seen, and we will continue to do things to the satisfaction of the residents of Abuja and assure them that the renewed hope agenda is not a mere talk. So, it is a promise and a promise kept”, he added.

Some of the projects inspected were the Outer Southern Expressway, which stretched from A.A Rano, through Deeper Life Junction, SARS, Apo roundabout to Wasa District and is being constructed by China Geo-Engineering Company. And the Northern N-20 Expressway in Jahi District being constructed by Gilmor Construction firm and the Vice President’s residence being constructed by Julius Berger.

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