Minister of the Federal Capital Territory, Nyesom Wike, says the Bola Ahmed Tinubu International Conference Centre in Abuja has already brought in ₦650 million in revenue, just three weeks after its unveiling.
Wike made the disclosure during a live media chat in Abuja on Thursday, July 3, defending the ₦39 billion used to renovate the formerly rundown facility. He argued that the return on investment has already begun to justify the cost.
“Within three weeks, the centre has generated ₦650 million, compared to the ₦50 million the administration used to get annually,” Wike said. “That shows this was not a wasteful investment.”
The minister said the massive rehabilitation was necessary to bring the centre up to international standards and make it viable for high-level events and conferences.
According to him, the previous condition of the venue made it unattractive to major clients, limiting its economic potential.
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Wike noted that beyond the improved financial returns, the upgrade had also positioned Abuja as a more competitive destination for international summits and government functions, which can further boost the city’s economy.
While highlighting the revenue milestone, he also responded to public scrutiny over the cost of the project, saying critics had failed to consider the long-term benefits.
“They look at the figure and scream, but they don’t look at what is coming back into government coffers,” he said.
Wike’s remarks come amid continued scrutiny of his stewardship of the FCT, especially regarding big-budget projects and land allocations.
However, he insisted that all decisions made under his leadership have been guided by transparency, efficiency, and the goal of boosting the capital’s development.