In a significant development for the Federal Capital Territory (FCT), Nyesom Wike, the FCT Minister, has announced that the Ministry of Finance has disbursed N50 billion to fund ongoing capital projects. This allocation represents half of the FCT’s N100 billion 2023 supplementary budget, which received approval from the National Assembly.
Speaking after inspecting several ongoing projects, Wike emphasized his directive to the permanent secretary to promptly facilitate payments to project contractors within the FCT. The minister expressed his satisfaction with the released funds, stating, “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 hope that the contractors will be paid anytime from now on.”
Furthermore, Wike highlighted the assent to the FCT Statutory Budget, signaling a positive outlook for the timely completion of all projects as promised. He underlined the quality of the ongoing projects and expressed confidence in the contractors’ arrangements to enable the commissioning of these projects in commemoration of the President’s one year in office.
The release of these funds marks a crucial step towards advancing vital infrastructure and development initiatives within the FCT, reflecting the government’s commitment to fulfilling its promises and driving progress.
