The newly renovated Bola Tinubu International Conference Centre has generated N650 million revenue just three weeks after its inauguration, according to the minister of Federal Capital Territory (FCT), Nyesom Wike.
Speaking at a media briefing yesterday, Wike revealed that the facility, which previously earned only N50 million annually, has become a revenue powerhouse since its N39 billion renovation.
“Before we took over, the concessionaire was paying just N50 million yearly to FCT. But after commissioning on June 10, we have made N650 million in three weeks. Why? Because people appreciate quality,” he said.
The minister defended the extensive renovation, stating, “We completely transformed the center, the only thing we didn’t do was demolish the entire structure. Now it is fully booked through 2027.”
Wike highlighted the centre’s successful hosting of the Economic Community of West African States (ECOWAS) summit as a turning point.
“When President Tinubu hosted ECOWAS leaders there, the feedback from ambassadors was overwhelmingly positive. That endorsement changed everything, now everyone wants to use the facility,” he explained.
Addressing criticism over naming the centre after President Bola Tinubu, Wike was unequivocal, “People ask why I named it after Tinubu. My question is, who is more qualified? This administration has shown commitment to transforming Abuja’s infrastructure.
“When I initially shut down the dilapidated centre, many complained. But in Nigeria, if you listen to frivolous criticisms, you will never achieve anything,” he said.
The FCT administration faced scrutiny over the N39 billion renovation cost, but Wike argued the project’s financial returns validate the expenditure.
“Look at the numbers, we have already recouped over N650m in weeks from a facility that used to make N50m yearly. The economics speak for themselves,” he stated.
