FCTA Woos Foreign Investors to Generate Revenue

Olawale Ajimotokan in Abuja

 The Federal Capital Territory Administration (FCTA) has restated that its ongoing efforts geared at mobilising stakeholders and harmonising revenue collection systems in Abuja was geared towards wooing both local and foreign investors to the capital city. 

The FCTA Permanent Secretary Adesola Olusade disclosed this at a one-day Townhall Meeting, organised by the FCT-IRS to further harness stakeholders’ support for the implementation of the harmonisation initiative. 

Olusade said it was imperative to make Abuja more investment friendly for intending investors. 

He noted that the decision to embark on the revenue collection harmonization drive in collaboration with the six Area Councils was also in sync with global best practices.

“By simplifying and consolidating our revenue collection systems, we aim to attract more investment, stimulate economic growth, and create employment opportunities.

“This will enhance the FCT’s reputation as an investment-friendly destination and contribute to the overall development of the region,” he said.

Also Speaking, Chairman of FCT-IRS, Haruna Abdullahi explained that the processes of the harmonization were duly backed by extant laws and regulations. 

He averred that apart from increasing revenue generation for the benefits of both the government and citizens, promoters of the initiative, also want to enshrine transparency and accountability in the systems.