FCT Minister Nyesom Wike Urges Nigerians to Pay Taxes to Support Government Services

Nyesom Wike, the Minister of the Federal Capital Territory (FCT), has urged Nigerians to fulfill their tax obligations, highlighting the critical financial needs of the government.

Speaking at the inaugural Abuja Business and Investment Summit on Wednesday, Wike emphasized that tax revenues are essential for the government to provide public services and meet its responsibilities. “The government needs money,” he said, stressing that the belief that the government does not require funds is a misconception.

Wike was addressing attendees at the summit organized by the Abuja Investment Company Limited, where the theme “Optimising Investment Through Partnerships” aligned with the Federal Government’s focus on fostering investment through collaboration. However, the minister made it clear that financial resources are necessary for such partnerships to thrive. “When people say the government is not to make money, who told you that?” Wike remarked, underscoring the role of tax revenues in sustaining government functions.

The FCT Minister also highlighted the challenges of past public-private partnerships, where investments often failed to deliver returns. “These are the kinds of things the government looks into and says, how can I bring in the money and the land and at the end of the day, the government will not make a dime?” Wike questioned, pointing out that such losses prevent the government from being able to reinvest in critical services and infrastructure.

Wike’s remarks came shortly after the Federal Government announced a new tax policy aimed at high-income earners, imposing a 25% effective tax rate on Nigerians earning ₦100 million or more per month. The minister noted that these new measures are part of efforts to ensure that the government secures sufficient resources to meet its financial commitments. “That’s why the government says pay your tax; it’s very important,” Wike emphasized.

While the minister stressed the importance of tax payments, he also assured investors that the government is committed to providing a conducive environment for business growth. “We have to encourage you (investors) so that you get what you are supposed to get, and the government gets what it is supposed to get,” Wike explained. This balanced approach, he argued, would ensure that both parties benefit from the government’s efforts to stimulate investment and economic development.

In his closing remarks, Wike reiterated that a healthy partnership between the government and the private sector relies on both sides contributing their fair share. He expressed confidence that with proper collaboration, the government would be able to generate the resources necessary to continue providing essential services to Nigerians, ensuring long-term development for the country.