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Wed, Sep 6, 2023 3:15 PM

FCT Minister Set to Penalize Property Owners Owing N34 Billion in Ground Rents

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FCT Minister Set to Penalize Property Owners Owing N34 Billion in Ground Rents
The Minister of the Federal Capital Territory (FCT), Mr Nyesom Wike, has announced plans to penalize property owners owing a total of N34 billion in ground rents to the FCT Administration. Wike warned that non-payment of ground rents will result in the revocation and reallocation of properties to those willing to pay. The minister also expressed his dissatisfaction with poor budgetary provisions for the FCT and appealed for improved allocations. This article explores the implications of these measures and highlights the need for property owners to fulfill their financial obligations.

The Minister of the Federal Capital Territory (FCT), Mr Nyesom Wike, has declared his intention to enforce penalties on property owners in the FCT who have failed to pay their ground rents, resulting in a cumulative debt of N34 billion. Wike emphasized the importance of property owners fulfilling their financial obligations to the FCT Administration to ensure the provision of essential services and the completion of abandoned projects.

Wike revealed that a comprehensive list of individuals and organizations who owe ground rents to the FCT Administration will be published on Thursday, and they will be given a two-week grace period to settle their debts. Failure to comply with this payment deadline will lead to the revocation of the properties in question, which will then be reallocated to individuals willing and capable of fulfilling their financial obligations.

The decision to penalize property owners owes to the FCT Administration's need to generate revenue and link it to various projects aimed at transforming the capital city. By tying projects to internally generated revenue, the FCT Administration hopes to breathe new life into abandoned projects and ensure their completion by engaging capable contractors.

Furthermore, the Minister expressed his frustration with the inadequate budgetary allocations to the FCT, which hamper the timely execution of projects and hinder the overall development of the capital city. He called on lawmakers to assist in improving the budgetary provisions for the FCT, enabling the administration to better serve its residents and enhance the city's infrastructure.

In addition to addressing the issue of ground rent payments, Wike announced plans to overhaul the Abuja Urban Mass Transport Company (AUMTCO). He expressed dismay that AUMTCO buses were being loaned out without proper maintenance, undermining the efficiency and reliability of the mass transportation system in the FCT.

The Chairman of the House of Representatives Ad-hoc Committee Investigating Failure of Mass Transportation in Nigeria, Mr Afam Ogene, joined the minister in highlighting the challenges facing the mass transportation sector in the country, particularly in the FCT. Ogene pledged the committee's support in finding viable solutions to the issue and reaffirmed their commitment to improving transportation services in the city.

The ongoing transformation of the Abuja Light Rail transport system and the installation of traffic lights across the city were acknowledged as positive steps towards addressing the transportation challenges. The committee promised its full backing to the minister in his efforts to reorganize the transportation sector, with the aim of providing efficient and secure modes of transportation for residents.

In conclusion, the Minister of FCT's decision to penalize property owners owing N34 billion in ground rents serves as a reminder of the importance of fulfilling financial obligations. As the FCT Administration seeks to ramp up revenue generation and expedite project completion, property owners must heed the warning and pay their dues. Failure to do so may result in the loss of their properties and the allotment to those who are willing to meet their financial responsibilities. Additionally, increased budgetary provisions for the FCT, coupled with the overhaul of the transportation sector, will contribute to the overall development and improved quality of life in the capital city.

Source of content: OOO News 2023-09-06 News

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