The Minister of the Federal Capital Territory (FCT), Nyesom Wike, has stressed the importance of tax payments for sustaining government operations and providing vital social services to citizens.

Speaking at the inaugural Abuja Business and Investment Summit organized by the Abuja Investment Company Limited, Wike urged Nigerians to fulfill their tax obligations, emphasizing that governments at all levels need adequate funding to effectively serve the public.

Wike stated that the theme of the summit, “Optimizing Investment Through Partnerships,” aligns with the Federal Government’s commitment to leveraging collaboration to enhance investment opportunities.

In his remarks, Wike cited instances where government-private sector partnerships failed to yield expected returns on investment. “The government won’t continue to commit billions of naira and land to investors who can’t guarantee a return on investment,” he stated, emphasizing the importance of accountability from both parties involved.

He addressed a common misconception that the government should not seek to generate revenue, asserting, “When people say the government is not to make money, who told you that? If the government is not to make money, how do we have money to provide services? The government needs money.”

He elaborated on the government’s role in providing the necessary environment for investment while cautioning against the irresponsible allocation of public resources. Wike cited instances where partnerships with the private sector failed to deliver promised returns, declaring that the government would not continue to commit vast amounts of money and land to investors who cannot ensure a profitable outcome. “These are the kinds of things the government looks into and say how can I bring in the money and the land, and at the end of the day, the government will not make a dime?” he questioned.

Wike reiterated that tax compliance is essential for the government to meet its financial obligations. He called on the business community to collaborate with the government to ensure mutual benefit. “While we provide the enabling environment, we also believe that we have to encourage you (investors) so that you get what you are supposed to get and the government gets what it is supposed to get. That way, everybody will go home smiling,” he stated.