The Federal Capital Territory Minister has responded to criticism from former Labour Party presidential candidate Peter Obi regarding the N39 billion renovation of Abuja’s International Conference Centre, defending the project’s cost and highlighting its economic benefits.
Obi had condemned the federal government’s approval of the massive renovation budget, describing it as misplaced priorities and questioning how a building originally constructed for over N200 million now requires such an inflated renovation fund.
Nyesom Wike addressed these concerns during a media interview covered by TVC, challenging critics to consider economic realities and currency depreciation over time.
The FCT Minister questioned the validity of comparing 1991 construction costs with current renovation expenses without accounting for currency devaluation. “You know people talk for talking’s sake,” Wike said. “You built it in 1991 with 200 and something million; what was the exchange rate? What was the exchange rate in 1991, and what is it now?”
He emphasized the comprehensive nature of the renovation work, which involved complete reconstruction rather than simple repairs. “The only thing that we didn’t do in that structure was to bring the whole thing down; everything was removed,” Wike explained. “I’m sure if you go there today, you’ll be happy for them.”
The minister highlighted the dramatic improvement in the facility’s revenue generation capacity following the renovation, presenting it as evidence of the project’s economic value. “As I speak to you, that place was commissioned on June 10; do you know the revenue that was made within 3 weeks is 650 million naira?” Wike revealed. “But this was somebody giving us 50 million a year; that is the country we were in – 50 million a year, but we have 650 million in 3 weeks.”
The FCT Minister cited positive international feedback and overwhelming booking demand as validation of the renovation’s success. “The President hosted ECOWAS Heads of State in that international conference centre; go and see the comments from ambassadors. People are rushing to that place now; in fact, those spaces, as I speak to you, have been booked until 2027,” he stated.
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