Minister of the Federal Capital Territory, Barrister Ezenwo Nyesom Wike has said that the FCT’s N1.28 trillion 2024 statutory budget will revolutionize infrastructure provision in the nation’s capital.
Wike,who made this statement during a media chat with journalists in Abuja, said the budget will not only cater for the provision of roads in the FCT but will also prioritize the healthcare and education sectors, as well as the Abuja metro line, amongst other projects.
He said, “Frankly speaking, it is going to revolutionize infrastructure as far as the FCT is concerned. Not only road networks but also in health and education”.
Former River’s governor said 70 percent of the budget has been allocated to capital expenditure, with 58 percent of that capital component earmarked for the completion of ongoing projects, while 42 percent is for new projects.
According to him ,to be given priority amongst other projects are; the rehabilitation of 21 schools in deplorable conditions across the six Area Councils as well as the Utako, Gwagwalada, and Gwarimpa General Hospitals to ensure that they are up to the required standard.
“I believe by the grace of God that the budget is going to be very impactful to the residents of Abuja”,he said .
On how the FCT intends to finance the over N1 trillion budget which is the largest since the inception of the FCT, the Minister disclosed that the withdrawal of the FCT from the Treasury Single Account (TSA) has enabled the Administration to source for funds from the financial market using its IGR.
He said the FCT Administration, through this approach, would be able to address the issue of delays in the completion of ongoing projects as well as the attendant variation of contracts in addition to also restoring the confidence of contractors, which was hitherto lacking.
“The funds are there now and the contractors are happy because these funds have been tied to various specific projects. It is going to create a situation where people will wonder what is going on”.
“This strategy is what I used when I was Governor and it has paid off… Contractors like nothing better than to hear that funds are available. Before you know it, you have turned around the entire place. That is what is going on today in Abuja”.
The Minister also restated that contractors in the FCT were fully committed to completing the projects that are scheduled for completion in May this year to mark the President’s one year in office.
Some of the projects, according to him, include the Southern Parkway, the Wuye Interchange connecting Wuye to Wuse District, the Outer Southern Expressway from Villa Roundabout to OSEX/Ring Road I, the Arterial Road N20 from Northern Parkway to Outer Northern Expressway (ONEX), the Guzape District Infrastructure, the Abuja Metroline and all the access roads to the train stations, amongst others.
