President Bola Tinubu has defended his administration’s decision to remove the Federal Capital Territory Administration, FCTA, from the Treasury Single Account, TSA, saying the move was necessary to speed up project delivery and improve infrastructure development in Abuja.
Tinubu said the decision gave the FCTA the financial flexibility, liquidity and operational speed required to execute critical projects without bureaucratic delays.
The President made the remarks on Monday while commissioning a new Office Annex for the Body of Benchers and 10 units of four-bedroom staff quarters at the Nigerian Law School in Bwari, Abuja. He was represented at the events by the Secretary to the Government of the Federation, Senator George Akume.
According to Tinubu, critics questioned the policy when it was introduced, but the transformation witnessed across the Federal Capital Territory has justified the decision.
“When we pulled the FCT Administration out of the Treasury Single Account (TSA), there were skeptics. There were those who questioned the wisdom of that financial liberation. But we did it because we knew that local administration must have the liquidity, the speed and the corporate flexibility to interface with financial institutions and deliver critical projects without bureaucratic strangulation. Today, the results are glaring,” he said.
The President credited the Minister of the Federal Capital Territory, Nyesom Wike, with implementing the policy and driving infrastructure development in Abuja.
Tinubu said Wike had gone beyond road construction by strengthening institutions of justice and governance, including resolving the Nigerian Law School’s long-standing land title issue through the
