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    MarketForces Africa » MarketForces News » Wike Tasks FCT Residents on Tax, Ground Rent for Infrastructural Devt

    Wike Tasks FCT Residents on Tax, Ground Rent for Infrastructural Devt

    Julius AlagbeBy Julius AlagbeFebruary 14, 2024 News No Comments3 Mins Read
    Wike Tasks FCT Residents on Tax, Ground Rent for Infrastructural Devt
    Nyesom Wike
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    Wike Tasks FCT Residents on Tax, Ground Rent for Infrastructural Devt

    The Minister of the Federal Capital Territory (FCT), Mr Nyesom Wike, has called on FCT residents to pay their taxes and ground rents to enable the FCT Administration provides critical infrastructure in the capital city.

    Wike, who made the call on Tuesday after an inspection tour of project sites in Abuja, stressed that the government needed resources to provide critical infrastructure.

    “Like we have always said to the elites in the FCT – they want roads, they want a good environment, they want streetlights everywhere, but the government does not print money.

    “Government needs to tax people and then use that money for the development of the area. So, I will always plead with everybody that they should try as much as they can, to pay their ground rents,” he said.

    The minister said that funds from taxes, ground rent and other revenues were being used judiciously to ensure the delivery of various projects in the federal capital to meet the needs of residents.

    He said that despite the economic situation in the country, the FCT Administration was prompt in the payment to various contractors to ensure timely delivery of ongoing projects.

    “With the taxes people pay, we try as much as we can, to allocate it to the priority projects.

    “Again, we don’t allow variation because we also try to pay as at when due; so the issue of variation does not come in” he added.

    One of the projects inspected was the completion of the Vice President’s residence by Julius Berger,

    Other projects were the Asokoro and Area One roundabouts on the Outer Southern Expressway being constructed by CGC Construction Nigeria Ltd. and Wuye Bridge being handled by Arab Contractors.

    The minister also inspected the ongoing construction of B6 and B12 roads connecting Independence Avenue in central area with City Gate and being handled by Julius Berger.

    On his assessment of the projects’ delivery so far, the minister expressed optimism that they would be completed in May to mark President Bola Tinubu’s one year in office.

    “I think we are quite optimistic with the speed of work, and taking advantage of the weather, we believe that by May, these projects will be ready.

    “It is very key for us to understand that without payment of taxes, it will be very difficult for us to carry out most of these gigantic projects.

    “If we don’t have the money, there is nothing we can do,” Wike said. #Wike Tasks FCT Residents on Tax, Ground Rent for Infrastructural Devt#

    FIRS Assures MTN, Others of Friendly Tax Administration

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    Julius Alagbe
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    Julius Alagbe is a senior financial journalist and Editor at MarketForces Africa with nearly two decades of experience in finance, accounting, and economics reporting.He is one of Nigeria's most prolific financial market reporters, covering capital markets, monetary policy, corporate earnings, banking, telecoms, and macroeconomic developments across Africa.Julius has built a strong footprint reporting on Nigeria's leading corporates and financial services sector, including coverage of the Nigerian Exchange Group, Central Bank of Nigeria monetary operations, MTN Nigeria, GTCO, and major investment banking transactions.He regularly monitors the CBN’s open market operations, interbank FX markets, and equity market movements, providing readers with real-time intelligence on Nigeria’s financial landscape.His reporting draws on direct access to institutional research from firms including Moody’s Ratings, CardinalStone Securities, Fitch, and other leading African investment houses.Julius brings analytical depth and editorial rigour to every story, making complex financial data accessible to professionals, investors, and policymakers across Africa.Julius Alagbe is based in Lagos, Nigeria.

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