For many decades since the movement of the nation’s capital to Abuja as the Federal Capital Territory, FCT, the city has lagged behind in all ratings inspite huge investment by government, individuals and the private sector.
This ugly development that rared it’s head unendingly became worrisome and now history with the coming of the current Minister , Federal Capital Territory, FCT, Barrister Nzenwo Nyesom Wike CON two years down the lane.
His coming heralded not only economic boom , indiscriminate infrastructural development both at the nation’s city and area councils, but high ratings in all ramifications.
The recent one far from speculations and promotion of his government came from a recognized government agency charged with the assessment of the activities of 36 states in the country and the Federal Capital Territory, FCT, the National Bureau of Statistics, NBS in it’s latest reports .
The Bureau in its reports rated the nation’s city high, while commending the administration of President Bola Ahmed Tinubu,under the Renewed Hope Agenda, RHA,and Barrister Nzenwo Nyesom Wike CON, the Minister of FCT for changing the downward trend within two years at the mantle of leadership.
According to NBS , The Federal Capital Territory ,FCT, emerged as the top destination for foreign investment into Nigeria.
The report titled Nigeria Capital importation, Q1 2025, said the FCT attracted $3.04bn to come first from the $2.54bn Lagos attracted during the period.
The positive development for FCT will be the first time Lagos will lose its first place as the top destination for foreign investment into the country.
Lagos is however followed by Ogun State with $7.95m, Oyo with $7.81m and Kaduna with $4.06m.
The country under review generated a total capital of $5.64bn, which is higher than the $3.37bn recorded in Q1 2024, indicating an increase of 67.12 percent.
It added that in comparison to the preceding quarter of Q4 2024, capital importation increased by 10.86 percent from $5.08bn.
“It explained that Portfolio Investment ranked top with $5.20bn, accounting for 92.25 percent, followed by other investments with $311.17m, accounting for 5.52 percent and Foreign Direct
Investment recorded the least with $126.29m (2.24 percent) of total capital importation in Q1 2025”
Out of the five states that recorded capital importation during the quarter, Abuja (FCT) remained the top destination with $3.04bn, accounting for 54.11 percent of the total capital imported. Lagos State followed with $2.56bn (45.44 percent), and Ogun state with $7.95m (0.14).
This was largely responsible by the fiscal discipline, supervision and improved revenues put in place by the Wike led administration.
Away from politics and infrastructural rejuvenation and development, Wike has improved the economy of the country through foreign direct investment FDI, investment destination, ID, job creation, employment opportunities among many others in the last two years
For Nyesom Nzenwo Wike CON, the driver on the seat of Renewed Hope Agenda, RHA of President Bola Ahmed Tinubu in the current dispensation alot has been achieved.
Written BY ABUBAKAR YUSUF on yus.abubakar3@gmail.com. , za z *.
