The Minister of the Federal Capital Territory (FCT), Nyesom Wike, has attributed the availability of funds for infrastructure development in Abuja to President Bola Tinubu’s decision to remove the FCT Administration (FCTA) from the Treasury Single Account (TSA).
Wike made the remarks on Wednesday during the commissioning of a newly completed road linking the Body of Benchers complex to two private universities in Abuja, one of several projects inaugurated to commemorate President Tinubu’s third anniversary in office.
The minister praised the President for approving the FCTA’s removal from the TSA, describing the move as a major boost that has enabled the administration to execute and complete numerous projects.
According to him, the increased financial flexibility has made it possible for the FCTA to embark on several infrastructure projects, many of which are now ready for inauguration.
“Today we are here to commission this project. The other day, we were also here to commission the annex at the Body of Benchers.
“Your Excellency, we thank you for your support and the resources made available by removing us from the TSA, and that is why today we have so many projects to be commissioned,” Wike said.
The FCT minister further assured residents that the administration’s ongoing infrastructure drive would extend to all districts and satellite towns within the territory.
He noted that the government remains committed to ensuring balanced development across the FCT, adding that several districts and satellite communities have already benefited from ongoing projects.
The Treasury Single Account (TSA) is a public financial management system introduced by the Federal Government to consolidate revenues from Ministries, Departments and Agencies (MDAs) into a single account maintained by the Central Bank of Nigeria (CBN). While the policy was designed to promote transparency, improve cash management and curb leakages in public finances, some government agencies have argued that it limits their operational flexibility by restricting direct access to internally generated revenue and delaying project execution.
