Nyesom Wike Advocates for Growth with N1.78 Trillion FCT 2025 Budget Proposal
In a compelling session at the National Assembly Complex in Abuja, the Minister of the Federal Capital Territory (FCT), Barr Nyesom Wike, put forth an ambitious budget proposal for 2025, totaling N1.78 trillion. The theme, “Completion of Ongoing Projects for Enhanced Service Delivery,” reflects a strong commitment to advancing infrastructure, transportation, education, and healthcare in Nigeria’s capital. This substantial budget is a strategic plan aimed at improving the lives of residents and transforming Abuja into a world-class city.
Wike’s presentation emphasized that 72.3% of the budget—equating to N1.29 trillion—is earmarked for capital expenditure. This indicates a significant focus on developmental projects that are vital for enhancing urban services and improving daily life for residents. He proudly highlighted the FCT’s 2024 budget performance, which saw a 74% revenue realization, with N1.23 trillion generated from a revised budget of N1.67 trillion, showcasing effective fiscal management amid challenging economic conditions.
Key budget allocations reveal a steadfast focus on infrastructure development: N801.5 billion will facilitate the completion of essential projects, including 14 critical roads, such as the B6, B12, and N20 Expressways, and the dualization of the Kuje-Gwagwalada Road. Notably, the Abuja Light Rail system is set for an investment of N25 billion, reaffirming Nigeria’s commitment to modern transportation solutions.
The education sector is not left behind; N181 billion has been allocated, with a substantial N120 billion dedicated to capital projects, enhancing learning environments across the FCT. In healthcare, N54 billion will be directed toward modernizing hospitals and acquiring essential medical equipment, a significant step toward achieving better health outcomes for the citizens.
Additionally, the environment takes priority with N22.9 billion set aside for city cleaning contracts to ensure Abuja remains a vibrant and appealing capital. Wike also announced projections of N1.39 trillion in distributable revenue and N391.2 billion from dedicated funds, including loans from institutions like the China Exim Bank for infrastructure projects.
Wike urged swift approval from the National Assembly, passionately stating, “With your legislative support, we will transform Abuja into a world-class capital. Our focus is on completing projects that directly benefit residents, reduce traffic, and improve living standards.” This sentiment captures the essence of a proactive governance approach, aiming to bolster growth and enhance the quality of life in the FCT.
As this budget proposal progresses through the legislative process, it carries with it the potential for significant positive transformations across numerous sectors, setting a course for a thriving future in Nigeria’s capital.
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