FCT Minister Wike Suggests Spending N15 Billion on New Vice Presidents Residence and N2.8 Billion on Advertising bankpawa.co .uk

FCT Minister Wike Suggests Spending N15 Billion on New Vice President’s Residence and N2.8 Billion on Advertising

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Nyesom Wike, the Minister of the Federal Capital Territory (FCT), made public the suggestion of a budget of N15 billion for the construction of a new residence for the Vice President on Wednesday.

While defending the FCT N61.5 billion 2023 Supplementary Budget and presenting it to a House of Representatives Committee, he made this revelation.

You may remember that on Tuesday, President Bola Tinubu sought expedited approval of the N67 billion FCT supplementary budget by transmitting it to the National Assembly.

The president’s request was swiftly granted, and the law was swiftly sent to the lower house for first and second readings.

The Federal Executive Council (FEC) authorized the building of a new vice president’s mansion in 2010 at a cost of N7 billion, according to Wike, who was addressing the MPs. However, the project was subsequently abandoned.

According to the minister, the contractor has amended the project’s budget by a total of N15 billion, and the current administration has decided to begin construction.

To kick off the project, Wike said that N5 billion had been set aside in the FCT supplementary budget.

According to him:

Abandoned is the Vice President’s mansion, which was granted in 2010 for N7 billion.

The fact that a nation of this kind has failed to finish the vice president’s home in thirteen years is humiliating. The contractor is now stating that they cannot proceed without review, even though the total cost is N7 billion.

“N15 billion is what they’re claiming now. We promise that we will finish it by May, at which point the president will commission it.

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When MPs questioned Minister David Wike about why he intended to spend so much money on the building of a structure, Wike stated that it would be a “befitting residence” for the vice president.

As Wike put it:

The military built the Aguda home, which is where the current residence is. The administration subsequently announced in 2010 that they wanted to construct a more suitable home for the VP.

The total amount awarded for the contract was N7 billion. Similar to the structure we are constructing for the national assembly’s presiding officials, it has been left unfinished due to insufficient money.

We intend to include it in our statutory budget, we think. No matter what, we should see it through to completion.

“We have no plans to renovate. Approval for this position was granted in 2010. In May of 2023, we intend to commission it, and we anticipate being able to complete it.

According to Wike, the FCT supplementary budget will include N2.8 billion for FCTA advertisements.

According to him:

“The appropriation of N60 million ballooned to N2.8 billion when considering advertising and publicity.

“How come N2.8 billion?” is a question that some would ask. Making money is what you do with money. It became apparent to us when I joined the team that the majority of tenants do not pay the ground rent.

People seeking the C of O of mass housing developments, for example, were made public by us. The president has given the go-ahead for C of O’s decertification.

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