Nyesom Wike, Minister of the Federal Capital Territory (FCT), has emphasized that Internally Generated Revenue (IGR) is the primary source of funding for projects in the nation’s capital.

During a Thursday inspection of ongoing projects in the FCT, Wike stated that the FCT Administration relies heavily on IGR and prudent resource management to finance numerous projects in both the city center and area councils.

“The FCT Administration has been able to fund these projects through IGR and careful utilization of available resources.

“It’s crucial for residents to pay their taxes, as this is the only way we can sustain our development efforts,” Wike said.

Wike highlighted the importance of tax payment, noting that Nigerians are more likely to pay taxes when they see tangible results.

“When people see that their taxes are being utilized, they reciprocate by paying their taxes. However, they are reluctant to pay when they don’t see any progress,” he explained.

The Minister also inspected the 11km FCT Highway 105 and the 5-kilometer Kuje township road, both of which will be constructed with streetlights.

These projects, he said, aim to transform the area’s topography and provide essential infrastructure in line with the President’s Renewed Hope Agenda.

According to Wike, the FCT Administration prioritizes prudent management of resources, restricting the number of projects to ensure completion and availability of funding.

“We don’t have unlimited resources, but we’re committed to using what we have for the benefit of our people,” he said.

This approach aligns with the National Bureau of Statistics’ report on Internally Generated Revenue at the state level, which highlights the significance of IGR in funding state projects.

Improved land administration in States like Lagos and Kano has also been identified as a key factor in growing IGR.