The Minister of the Federal Capital Territory (FCT), Nyesom Wike, has disclosed that between ₦300 billion and ₦400 billion will be required to complete the long-abandoned Millennium Tower project in Abuja, describing the financial burden as beyond the capacity of the Federal Capital Territory Administration (FCTA).
Speaking with journalists in Abuja after inspecting ongoing road projects across the capital city, Wike said the project should be reclassified as a national project and developed into a major tourist attraction rather than being funded solely through the FCT’s statutory allocation.
The minister said discussions with the contractor had revealed the enormous cost of completing the project, which was originally awarded during the administration of former President Olusegun Obasanjo.
According to him, the FCTA cannot commit such a huge amount to a single project without jeopardising other critical infrastructure projects across the territory.
“You know that is a national project, and I believe that it’s one project that government should reconsider. It should be a tourist centre project and the capital involved is too huge for the FCT to have this on statutory budget.
“We have discussed with the contractor.
Remember that project was awarded under the Obasanjo administration. As I speak to you, the contractor is talking about not less than ₦300 billion to ₦400 billion. If you look at it, how do we carry such a project? It means every other project in Abuja will have to be abandoned.
“But we are still discussing with the President that the project should be reconsidered as a national project. That is where we are,” Wike said.
The minister made the remarks after inspecting the extension of Collector Road CO1 linking the Institution and Research District with Lugbe, as well as the Arterial Road N1 connecting Wuye District to Ring Road II.
He expressed optimism that all ongoing infrastructure projects awarded by the FCTA would be completed before the end of the year, reaffirming the administration’s commitment to delivering key road projects across the capital.
Wike also appealed to residents to be patient with the ongoing construction of the Jabi bridge, assuring them that none of the projects initiated by the administration would be abandoned.
However, he maintained that the Millennium Tower remained a unique case because of the enormous financial resources required for its completion, reiterating that the project would be better handled as a federal national project to avoid disrupting other developmental initiatives within the FCT.
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