By Stanley Onyekwere
The Federal Capital Territory Administration (FCTA) is leveraging enhanced fiscal discipline and strong public-private financial trust to drive its multi-billion naira infrastructure push toward a year-end completion target, FCT Minister, Barr. Nyesom Wike revealed on Thursday.
Inspecting critical capital projects including the Collector Road CO1 extension (linking the Institution and Research District to Lugbe) and Arterial Road N1 (Wuye District to Ring Road II), the Minister emphasized that the administration’s strategy of timely debt settlement and contractual reliability has unlocked continuous financing and work commitments from top-tier contractors.
“There are companies that, when they give you their word and you play your part financially, they always fulfill. CCECC and Arab Contractors are managing key corridors… and because trust exists, contractors execute even ahead of full disbursement,” Wike noted.
The FCTA aims to fully discharge its financial commitments on all legacy (awarded as far back as 2010) and newly awarded road infrastructure before the end of the year, preventing costly project abandonments and inflationary budget overruns.
Due to prompt payment schedules established under the current administration, major contractors like China Civil Engineering Construction Corporation (CCECC) and Arab Contractors are leveraging their own working capital to maintain project momentum ahead of milestone disbursements.
Opening up key commercial and institutional belts such as the Nile University / Research District corridor to Lugbe is projected to significantly boost real estate values, cut logistics costs, and expand the FCT’s internal revenue base (IGR).
Major capital works, including the Airport Road to Kuje corridor handled by Arab Contractors, are earmarked for final handover by December, aligning with fiscal performance benchmarks set for the administration.
Recalling the financial state of projects when the administration assumed office in August 2023, Wike highlighted how resolving payment impasses and restructuring contracts allowed previously stalled projects to resume rapidly.
He noted that the Airport road to Kuje alignment, for instance, had suffered from non-mobilization. Through restructured terms and guaranteed cash flow commitments, the project was revitalized and is now slated for completion ahead of key presidential milestones.
“They have never disappointed us. Most companies, even if we have not met our full financial obligations at a specific moment, go ahead because they know we will fulfill our side of the bargain,” Wike said, reiterating that reliable cash flow and budgetary backing remain the backbone of the capital’s structural transformation.
Addressing pending projects like the Jabi bridge alignment, he reassured investors, contractors, and residents that allocation and funding remain secured to ensure every active contract is brought to financial and physical closure.
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