FCT Debt Surges to ₦389 Billion Under Wike's Leadership

The Federal Capital Territory (FCT) experienced a dramatic increase in its domestic debt, rising from ₦61 billion in March 2025 to ₦389 billion by March 2026, under the administration of FCT Minister Nyesom Wike. This represents an increase of approximately ₦328 billion, equating to a rise of over 500% within one year.

Financial records indicate that by December 2025, the debt had already escalated to ₦189 billion, with an additional ₦200 billion added between December 2025 and March 2026. During this period, the FCT received a total of ₦227.4 billion in federal statutory allocations from July 2025 to June 2026.

The allocations varied monthly, with the highest being ₦30.6 billion in June 2026 and the lowest at ₦8.8 billion in February 2026. Despite these federal inflows, the domestic debt increase outpaced the total allocations received, highlighting a significant financial imbalance in the FCT's fiscal management.