The Minister of the Federal Capital Territory (FCT), Nyesom Wike, has revealed that the Ministry of Finance has disbursed N50 billion, representing 50% of the N100 billion 2023 supplementary budget approved by the National Assembly. Wike made the announcement during an inspection tour of ongoing projects in the FCT, expressing optimism that the funds would facilitate prompt payments to contractors and ensure the timely completion of capital projects.
Wike commended the Ministry of Finance for releasing the funds and emphasized the commitment of the FCT Administration to fulfill promises made to residents. He assured the public that the renewed hope agenda was not just rhetoric but a commitment to delivering quality projects. The minister acknowledged some challenges encountered during project delivery but expressed confidence in overcoming them with the support of President Bola Tinubu.
During the inspection, Wike visited various ongoing projects, including the Outer Southern Expressway constructed by China Geo-Engineering Corporation (CGC) Nigeria Limited, the Northern N-20 Expressway in Jahi District by Gilmor Construction firm, and the Vice President’s residence being constructed by Julius Berger.
Representatives from the construction companies assured the minister of their commitment to meeting project deadlines, with the Outer Southern Expressway expected to be completed before May. The Julius Berger team reported progress on the Vice President’s residence, detailing infrastructure work and procurement activities.
The release of funds for capital projects aligns with efforts to advance infrastructure development in the FCT and underscores the importance of financial support to ensure timely project completion.
