Nigerian Contractors Launch Fresh Protest Over N500 Billion Debt

Local contractors in Nigeria have launched a fresh protest at the Federal Ministry of Finance, demanding payment of over N500 billion in long-overdue debts for completed government projects. The contractors, led by Babatunde Seun-Oyeniyi, National Secretary of the All Indigenous Contractors Association of Nigeria, accused the Federal Government of repeatedly shifting its position on the issue and failing to honor commitments made during earlier meetings with officials

The contractors claim that despite recent assurances from the Minister of Finance, Wale Edun, no payment has been made. According to Oyeniyi, the government owes more than N500 billion to indigenous contractors for projects already completed and commissioned. The contractors are puzzled by the continued delays, especially after the minister reportedly stated that a portion of the funds was available

The contractors are demanding immediate payment of the outstanding debts and have blocked both entrances to the Ministry of Finance. They claim that officials are attempting to push the payments into the next fiscal year, which would further exacerbate their financial difficulties. Some of the placards carried by the protesters read, “Banks no longer have confidence in sponsoring government projects,” “Many contractors have lost their lives through suicide,” and “Contractors deserve payment

The Minister of Finance has assured contractors that payments will commence soon. According to a statement by Levinus Nwabughiogu, chief press secretary to Benjamin Kalu, deputy speaker of the House of Representatives, Edun said the federal government has adopted a structured process to address outstanding obligations to contractors. The Accountant-General of the Federation, Shamseldeen Ogunjimi, has also corroborated this statement, saying the payment process has already begun

The situation is still unfolding, and it remains to be seen whether the government will meet the contractors’ demands. The contractors have vowed to remain at the Ministry of Finance until their demands are met.