- Wike emphasized that his administration will prioritize broader human development initiatives
Federal Capital Territory (FCT) Minister, Ezenwo Nyesom Wike, has explained why the government cannot force landlords to lower rent prices, stating that rent costs are driven by market forces.
He warned that regulating rents could discourage investment in real estate.
Wike emphasized that his administration will prioritize broader human development initiatives that could eventually reduce the cost of living.
Speaking during an inspection of the Zeberced Quarry in Kubwa, Abuja, which he described as the largest in West Africa, the minister expressed surprise at the high cost of construction, given the availability of raw materials locally.
He pledged government support for the quarry’s parent company, which is also developing an industrial park in Idu, and revealed efforts to secure tax credits for the project.