FCT Debt Surges Over 500% Under Minister Wike, Hits ₦389bn Despite ₦227bn Federal Allocations In One Year

The increase occurred under the administration of FCT Minister Nyesom Wike, with financial records showing that the Territory’s debt stock more than tripled between March 2025 and March 2026.

The domestic debt portfolio of the Federal Capital Territory (FCT) rose sharply by about ₦328 billion within one year, reaching ₦389 billion in March 2026 from ₦61 billion in March 2025, despite the Territory receiving ₦227.4 billion in federal statutory allocations during the intervening 12-month period.

The increase occurred under the administration of FCT Minister Nyesom Wike, with financial records showing that the Territory’s debt stock more than tripled between March 2025 and March 2026.

Records show that the FCT’s domestic debt stood at approximately ₦61 billion as of March 2025.

By December 2025, the debt portfolio had risen to ₦189 billion, representing an increase of about ₦128 billion in nine months.