President Bola Tinubu has inaugurated a high-level committee to tackle the long-standing issue of unpaid obligations to over 2,000 federal contractors, with outstanding payments totaling N1.5 trillion.
The committee comprises key government officials, including the Minister of Finance, Wale Edun, and Minister of Budget and Economic Planning, Atiku Bagudu.
“All of them are supposed to sit down, develop a plan as a committee, and then go to the President to tell him the solution they have found in allocating funds to pay contractors,” said Bayo Onanuga, Presidential Adviser on Information and Strategy on Wednesday.
The President has expressed strong dissatisfaction with the situation, emphasizing the need for swift action to resolve the issue.
Persecondnews reports that the Nigerian leader has indicated that the federal government is open to borrowing to settle verified contractor debts if necessary.
“He even said that, as a sovereign country, we can go and borrow to pay those contractors,” Onanuga said.
The committee is expected to develop a clear plan for the prompt release of the outstanding funds.
The move follows recurring protests by local contractors over unpaid contract sums, including a recent protest by the Coalition of Indigenous FCT Contractors over an alleged N5.2 billion debt owed by the Federal Capital Territory Administration (FCTA).
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