The Minister of the Federal Capital Territory (FCT), Nyesom Wike, says the FCT Administration could not complete the abandoned Millennium Tower project due to the multi-billion-naira sum demanded by the contractor.
Mr Wike, who spoke after inspecting some ongoing projects in Abuja on Thursday, said the contractor handling the massive project demanded between N300 billion and N400 billion to complete it.
The minister explained that the FCT Administration could not shoulder the staggering completion cost without abandoning every other project in the nation’s capital.
He described the project, awarded during the administration of former President Olusegun Obasanjo, as a national monument with immense tourism potential.
According to him, its funding is too capital-intensive for the FCTA’s statutory budget.
