President Bola Ahmed Tinubu has defended his administration’s decision to remove the Federal Capital Territory Administration (FCTA) from the Treasury Single Account (TSA), saying the move has provided the financial flexibility needed to accelerate infrastructure development and transform Abuja into a modern capital city.
Speaking on Monday through the Secretary to the Government of the Federation (SGF), Senator George Akume, during the commissioning of 10 units of four-bedroom staff quarters at the Nigerian Law School in Bwari, Abuja, the President said the policy has already delivered visible results despite initial criticism.
Tinubu recalled that the decision to exempt the FCTA from the TSA was met with skepticism, but maintained that the administration acted to eliminate bureaucratic bottlenecks and improve project delivery.
“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, for translating the policy into tangible development, noting that the minister has delivered critical infrastructure projects while also strengthening institutions that support justice and governance.
Tinubu also commended Wike for resolving the Nigerian Law School’s long-standing land title issue by facilitating the issuance of its Certificate of Occupancy after years without formal documentation.
The President said the administration remains committed to implementing reforms that improve governance, accelerate development, and enhance service delivery across the Federal Capital Territory.
