- FCT Minister Nyesom Wike reveals property owners owe over ₦300 billion in unpaid Certificates of Occupancy fees, impacting development funding
- Wike reports FCT’s monthly revenue increased from ₦9 billion to an average of ₦25 billion, with potential for further growth
The Federal Capital Territory (FCT) Minister, Nyesom Wike, has revealed that property owners owe over ₦300 billion in unpaid Certificates of Occupancy (C of O) fees.
This revelation came during a media briefing at his Life Camp residence in Abuja on Sunday night.
Upon assuming office in late 2023, Wike discovered the FCT’s monthly revenue was between ₦9 billion and ₦10 billion. However, he announced significant improvements, with monthly revenue now averaging ₦25 billion and occasionally surpassing ₦40 billion.
“When I took office, we were generating about ₦9 to ₦10 billion monthly. Today, our revenue doesn’t drop below ₦25 billion. Last month alone, we exceeded ₦40 billion,” Wike said.
The minister highlighted the importance of taxes and ground rents in funding the FCT’s development projects. He urged residents to assess whether their contributions are yielding visible improvements.
“The real question residents should ask is if they see their money working for them. We are proving that it is,” he affirmed.
Wike disclosed that arrears linked to C of O fees exceed ₦300 billion. He emphasized how transformative these funds could be for the FCT.
“When we calculated the debts—excluding ground rents—the amount owed for C of O alone was over ₦300 billion. If we received this sum today, the FCT would be unrecognizable in six months,” he explained.
The minister expressed frustration that many land allottees fail to pay the required fees to formalize their titles. He assured residents of the administration’s dedication to accountability, improved services, and infrastructure development.
Wike reiterated his commitment to ensuring the FCT uses resources effectively to enhance residents’ quality of life.