‘Aggressive Revenue Drive’: Wike Says FCT Generated ₦40bn In Dec 2024

Nyesom Wike, the minister of the Federal Capital Territory (FCT), claims that his aggressive revenue growth has increased the country’s capital’s monthly income from about 9 billion to an average of 25 billion.

Wike, during a media chat on Sunday evening, said the nation’s capital generated over ₦40bn in December 2024.

He attributed the increase in revenue to land allotees’ receipt of ground rents and the payment of Certificates of Occupancy (C of O) taxes.

According to the minister, the FCT pays monthly salaries of N13 billion. “We don’t get up to N13bn from VAT and the 1% from the Federal Government. Therefore, because of the new salaries, we must increase from the IGR to be able to pay the salaries,” he said.

I’ll Charge Electricity Vandals With Economic Sabotage – Wike. READ ALSO:

“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.

“Our aggressive revenue drive is what caused it.” In fact, last month, we were able to generate about 40 something billion naira. Aggressive revenue drive to be able to carry out infrastructure

“We must pay taxes, and when taxes are not paid, how do we get development,” the quote goes. 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. He continued, “We can beat our taxes to say that we are doing that, but that is not enough.”

Source: Channels TV