The Federal Ministry of Finance headquarters in Abuja became the site of a mass protest on Monday as hundreds of indigenous contractors demanded the settlement of over ₦4 trillion in unpaid debts for completed projects.
Organized by the All Indigenous Contractors Association of Nigeria (AICAN), the demonstration signals a significant escalation in the protracted standoff between local firms and the Federal Government.
The protesters alleged that the government has consistently reneged on payment promises, leaving many business owners in dire financial straits.
AICAN President Jackson Nwosu emphasized that these broken agreements have triggered a cascade of economic crises for contractors, including severe cash flow shortages and a rising wave of bank defaults.
“The government has failed to honour the agreement to pay contractors whose project details had been submitted and verified.
“Payments finalised before the closure of the payment portal at the end of December never reflected in our accounts,” Nwosu said, dismissing claims that 80% of debts had been settled.
The protest turned tense when security aides fired a shot into the air as Minister of State for Finance Doris Uzoka-Anite attempted to enter the ministry complex.
AICAN Vice President Fredrick Agada accused authorities of intimidation, saying, “This is a peaceful protest. We are harmless. We are just sitting down peacefully, demanding our money, our payment”.
Also speaking with reporters, the Secretary-General, Babatunde Oyeniyi, warned that continued neglect of indigenous contractors was damaging the domestic economy, adding that the protest would continue until all verified contract payments are made.
The association insisted that local contractors should not be treated differently from foreign firms, whose payments are processed without delay.
Author
Leave a comment