The Minister of Federal Capital Territory (FCT), Nyesom Wike, on Thursday explained that the cost of completing the abandoned Millennium Tower project in Abuja has increased to between N300 billion and N400 billion.
The FCT Minister added that the increase in the cost of completing the project has made it financially unviable because it would affect other on-going projects.
Wike stated this during an inspection tour of inspecting the ongoing construction of the extension of Collector Road CO1 linking Nile University area in the Institution and Research District with Lugbe, Abuja and the Arterial Road N1, from Wuye District to Ring Road II, Abuja.
The minister revealed that he has appealed to President Bola Tinubu to step in, reconsider the complex as a strategic national project, and assume its funding.
According to the minister, tying down such an enormous capital outlay to a single project would effectively cripple the territory’s finances and force the administration to abandon several other critical infrastructure projects needed across Abuja.
Responding to inquiries about the long-delayed landmark, Wike emphasised the need for a realistic approach to the city’s development priorities.
He said, “Well, you know that’s a national project. And I believe that it’s one project that the government should reconsider. It should be a tourist centre project. The capital involved is too huge for the FCT to handle as a single project”.
Tracing the genesis of the signature edifice, Wike noted that the contract was originally awarded decades ago under the administration of former President Olusegun Obasanjo.
According to the minister, tying down such an enormous capital outlay to a single project would effectively cripple the territory’s finances and force the administration to abandon several other critical infrastructure projects needed across Abuja.
Responding to inquiries about the long-delayed landmark, Wike emphasised the need for a realistic approach to the city’s development priorities.
He said, “Well, you know that’s a national project. And I believe that it’s one project that the government should reconsider. It should be a tourist centre project. The capital involved is too huge for the FCT to handle as a single project”.
Tracing the genesis of the signature edifice, Wike noted that the contract was originally awarded decades ago under the administration of former President Olusegun Obasanjo.
However, the minister said years of neglect, economic shifts, and delayed execution have pushed the financial requirements to an unprecedented high.
Wike further explained, “We have discussed with the contractor. Remember that the project was awarded under Obasanjo’s regime
“As I speak to you, it’s not less than 300 to 400 billion Naira that the contractor is talking about. And if you look at it, how do we carry out such a project? It means that every other project in Abuja we will have to abandon. But we are still talking to the President that he should reconsider it as a national project. So, that’s where we are”.
Despite the setback posed by the massive cost of the Millennium Tower, Wike expressed strong satisfaction with the pace and quality of ongoing infrastructure development across the territory, particularly praising major construction firms handling critical corridors.
On ongoing projects, Wike assured residents that all ongoing infrastructure projects awarded by the Federal Capital Territory Administration (FCTA) will be completed before the end of the year, expressing confidence in the contractors handling the various road projects across the capital city.
Wike said the Tinubu administration remained committed to delivering every project it had initiated, insisting that no road project would be abandoned.
“What should concern you is whether there is any project we have started and abandoned. Look at even the projects that were awarded since 2010. We have tried to see that all are completed, and the ones that this administration has awarded will also be completed,” the minister said.
He added: “I don’t want to be pessimistic. I’m very optimistic that all the roads that we have gone for inspection, after the commissioning and flag-off, will also be done. As far as I’m concerned, the latest by the end of this year.”
