From Juliana Taiwo-Obalonye, Abuja
In a remarkable display of fiscal efficiency, the Federal Capital Territory (FCT) has achieved a historic 95 percent implementation of its 2024 statutory budget, according to the Minister, Nyesom Wike.
According to a statement issued by the Director of Press, Anthony Ogunleye, the minister noted that this milestone marks a significant leap from previous reports, which indicated a 90 percent implementation rate earlier in the year.
“I can tell you we’ve done not less than 95 percent of the budget implementation. That is historic. It has never happened before. And if you look at the projects there, you will see that there is no project that is in the 2024 budget that we have not touched,” he said.
Wike emphasised during a press briefing after inspecting several ongoing infrastructure projects across the Territory, key projects nearing completion include the 4-kilometer six-lane dual carriageway connecting Life Camp Junction to Ring Road III and the access road from Nnamdi Azikiwe Expressway to Judges Quarters in Katampe District. The extensive renovation of the International Conference Centre is also progressing rapidly.
Wike attributed the success to the extension of the 2024 budget by the National Assembly until June 2025, allowing for adequate funding and progress on projects. He expressed optimism about the timely approval of the 2025 budget, which has been submitted to the National Assembly.
“These projects will be inaugurated by Mr. President during his second-year anniversary celebrations. We have gone to the International Conference Centre, which is almost ready. The first phase of the N5 will also be ready by the end of May,” Wike stated.
He commended contractors for their dedication and commitment to delivering high-quality work within stipulated timelines, ensuring that payments are made to avoid delays. “Frankly speaking, we are very impressed with what we have seen. We are on schedule,” Wike concluded.