The Minister of the Federal Capital Territory (FCT), Nyesom Wike, has stated that his administration will not complete the abandoned Millennium Tower project in Abuja
The minister explained that the tower project had soared to between ₦300 billion and ₦400 billion, making it financially unviable for the FCT Administration to complete.
Naijaonpoint reports that Wike made the disclosure on Thursday during an inspection tour of ongoing road and infrastructure projects across the nation’s capital.
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 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.
