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    MarketForces Africa » MarketForces News » We Removed FCT From TSA to Speed up Development – Tinubu

    We Removed FCT From TSA to Speed up Development – Tinubu

    Olu AnisereBy Olu AnisereMarch 30, 2025 News No Comments3 Mins Read
    We Removed FCT From TSA to Speed up Development – Tinubu
    President Bola Ahmed Tinubu; Vice Vice President Kashim Shettima; National Security Adviser, Nuhu Ribadu; Minister of FCT, Nyesom Wike and Minister of Information and National Orientation, Mohammed Idris Malagi during the Eid-el-fitr homage to the President by the FCT administration at the State House, Abuja on Sunday
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    We Removed FCT From TSA to Speed up Development – Tinubu

    President Bola Tinubu says  his administration removed the Federal Capital Territory (FCT) from the Treasury Single Account (TSA) to expedite development and enhance participation of residents in governance.

    The President said this when he received FCT residents led by Mr Nyesom Wike, the FCT Minister, who paid him Sallah homage on Sunday at the Presidential Villa, Abuja.

    He said the bureaucracy associated with the TSA was hampering infrastructure growth in the capital city and had to be reviewed for impact and progress.

    President Tinubu stated that freeing the FCT from TSA restrictions had catalysed infrastructure improvements, enhanced healthcare services and increased security measures. “I remember the day that the FCT minister came to meet me, and he said, please take us out of the problem of the TSA so that I can do more work and achieve more.

    “I said show me what you are about to do, and he presented his thinking and belief. And everything started changing rapidly.

    “I started seeing the opening up of the rural areas by the FCT, the resuscitation of abandoned projects, and completion of the Vice President’s official residence that was abandoned for years,” he said.

    He stated that the FCT rehabilitated health care centres, upgraded facilities for school children and provided furniture.

    President Tinubu thanked the FCT minister for proving that liberation from the bureaucracy was necessary and for restructuring the FCT public service so that civil servants could aspire to higher positions and provide leadership.

    “We wouldn’t have been able to open our mouths to celebrate if not because of the progressive ideas you brought to FCT. We can now celebrate the innovative ideas brought to the FCT,” President Tinubu said.

    He encouraged FCT residents and other Nigerians to look beyond ethnic and religious colourations in their leadership choices and focus more on results.

    “Today, we live in peace, and security is improving. Hunger is coming down. Food prices are lowering. We can go to the market and do business. And our diversity and belief in ourselves are becoming stronger.

    “We are not looking for magic. We are looking for results. We are looking for comfort. We are praying for good health. We are looking for someone who cares,” the President noted. He added that the job was not just about Wike or himself but everyone: “Nyesom Wike is proving the diversity of Nigeria.

    “He strengthened that diversity to develop prosperity, showing us that we are all members of one family, living together in the same house, in different rooms, and under one roof.” The FCT minister thanked the President for hosting the residents at the State House.

    “This visit marks a historic moment as it is the first time the FCT residents can extend our greetings and best wishes to you in person during this blessed period. We are genuinely delighted to be here,” he said.

    Wike pledged his loyalty to the President and committed himself to developing the capital city, assuring that the FCT would soon complete many projects.

    “Despite our varied backgrounds, we are united in our unwavering support for your administration and the Renewed Hope Agenda,” he added.#We Removed FCT From TSA to Speed up Development – Tinubu#

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    Olu Anisere
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    Olu Anisere is a financial and economic journalist at MarketForces Africa, specialising in African macroeconomic policy, international finance, energy markets, and continental development.He covers major multilateral institutions, including the International Monetary Fund (IMF), World Bank, and the United Nations Economic Commission for Africa (ECA), providing readers with frontline reporting on policies shaping Africa's economic trajectory.Olu has reported extensively on Nigeria's fiscal and monetary policy landscape, including CBN interest rate decisions, Nigeria's bond market, FX inflows, and the country's engagement with global financial institutions.His coverage spans IMF and World Bank Spring and Annual Meetings, African Ministers of Finance conferences, and high-level economic forums where Africa's development agenda is set.His reporting captures perspectives from Africa's most influential economic voices, including Tony Elumelu, senior IMF officials, and CBN leadership, bringing institutional insight and policy depth to MarketForces Africa's readers.Olu also covers Inside Africa — tracking economic, investment, and development stories from across the continent. Olu Anisere is based in Lagos, Nigeria.

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