President Bola Tinubu has established a high-level committee to address the federal government’s outstanding debt of approximately ₦4 trillion owed to federal contractors. The President expressed deep concern over the situation, emphasizing his dissatisfaction with the delays in payment.....KINDLY READ THE FULL STORY HERE▶
The position was disclosed on Wednesday by the President’s spokesperson, Bayo Onanuga, following the Federal Executive Council (FEC) meeting in Abuja. Onanuga stated that the Director-General of the Bureau of Public Procurement, Dr. Adebowale Adedokun, informed President Tinubu that around 2,000 contractors are awaiting payments, which reportedly left the President “very, very upset.”
In response, Tinubu mandated the newly formed committee to develop a comprehensive plan to resolve the issue. “The President made it very clear he is not happy and wants a one-stop solution,” Onanuga said, noting that ministers are tasked with identifying funds to settle the debts.
The committee comprises key federal ministers, including Finance and Coordinating Minister of the Economy Wale Edun, Budget and Economic Planning Minister Atiku Bagudu, Works Minister Dave Umahi, Education Minister Olatunji Alausa, Housing Minister Ahmed Dangiwa, and Marine & Blue Economy Minister Gboyega Oyetola, alongside the Director-General of the Budget Office, Tanimu Kurfi, and the Chairman of the Federal Inland Revenue Service, Dr. Zacch Adedeji.
“All members are to meet, develop a funding plan, and present their proposed solution to the President,” Onanuga explained. The committee is tasked with investigating the causes of the delayed payments and recommending measures to ensure contractors receive their due funds promptly. Tinubu reportedly suggested that borrowing could be considered if necessary to clear the debts.
The move comes after contractors under the All Indigenous Contractors Association of Nigeria (AICAN) staged a continuous protest at the ministry last Tuesday, accusing the federal government of jeopardizing their businesses by withholding payments.