Tinubu: Exiting TSA Sparked FCT Infrastructure Revival, Completed Long-Abandoned Projects
IDNN Real Estate & Construction Desk | March 31, 2025
President Bola Ahmed Tinubu has credited the removal of the Federal Capital Territory (FCT) from the Treasury Single Account (TSA) framework with reviving abandoned projects and fast-tracking infrastructure development across Abuja.
Speaking during a Sallah homage event at the Presidential Villa in Abuja, Tinubu explained that lifting the TSA restriction allowed the FCT administration to bypass red tape and directly execute long-stalled capital projects.
“I remember the day the FCT Minister came to me and said, ‘Please take us out of the problem of the TSA so that I can do more work and achieve more,’” Tinubu said.
“Since then, everything started changing rapidly. I started seeing the opening up of the rural areas, the resuscitation of abandoned projects, and the completion of the Vice President’s official residence, which had been neglected for years.”
FCT Development Gains Under Wike
The President praised FCT Minister Nyesom Wike for steering a wave of infrastructural transformation, administrative reforms, and a renewed career progression structure for civil servants in the capital.
According to Tinubu, the decision to decouple FCT finances from the TSA regime led to:
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Expanded road infrastructure and rural connectivity
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Revitalization of abandoned capital projects
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Upgraded healthcare facilities
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Enhanced security and public safety initiatives
“Judge Leaders by Results, Not Religion or Ethnicity” – Tinubu
The President used the occasion to emphasize performance-based evaluation of public officers, urging Nigerians to look beyond religious or ethnic considerations when assessing leadership.
“What matters are the results. The FCT is changing, and that is what people should focus on,” Tinubu added.
Wike Thanks Tinubu for Breaking Bureaucratic Barriers
In his remarks, Minister Wike expressed gratitude to the President for granting fiscal autonomy to the FCT, noting that it enabled the administration to avoid the bureaucratic delays typically associated with TSA compliance.
“We are now able to implement critical projects without hindrance. This has allowed us to serve the people of Abuja more effectively,” Wike said.
Key Attendees at the Event
The event was attended by top government officials and community leaders, including:
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Vice President Kashim Shettima
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NSA Nuhu Ribadu
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Information Minister Mohammed Idris
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Traditional and religious leaders
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National Assembly members
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Security chiefs
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Representatives of youth and women groups
Understanding the TSA
The Treasury Single Account (TSA) is a government framework designed to consolidate all public funds under a centralized account structure at the Central Bank of Nigeria (CBN).
Its core objectives are:
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Transparency and accountability in public finance
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Efficient cash flow management
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Elimination of idle balances in multiple accounts
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Reduced government borrowing costs
Under the TSA, agencies are not permitted to operate separate commercial bank accounts. However, in the case of the FCT, Tinubu’s administration granted an exemption, allowing the territory to function with greater financial autonomy.
