28.3 C
New York
July 30, 2025
Local NewsLocal newsLocal newsNational NewsTrending

Federal Government Debt to Contractors: A Threat to Nigeria’s Economy and Development

 

This shouldn’t be happening now – General Bashexy

The continued delay by the Federal Government of Nigeria in paying contractors for completed projects is now a serious economic crisis. Across the country, countless businesses that have delivered essential infrastructure and services are struggling to survive due to non-payment by government agencies.

This growing debt burden is triggering a chain reaction of business closures, job losses, stalled projects, rising unemployment and ill health to some business men. Many contractors have taken loans to execute government projects, and with payments outstanding for months / years their companies are collapsing under financial pressure. Thousands of workers have been laid off, suppliers are unpaid, and confidence in government contracts is eroding fast.

Worse still, critical public infrastructure like roads, schools, hospitals among others are being left abandoned because contractors cannot afford to continue without payment. This not only undermines national development but also puts additional pressure on an already struggling population.

The ripple effect is unmistakable: economic stagnation, rising poverty, reduced investor confidence, and growing insecurity.

*A Call to President Asiwaju Bola Ahmed Tinubu for Urgent Action*

We call on His Excellency, President Bola Ahmed Tinubu GCFR, to urgently intervene.

*The Federal Government must:*

*Immediately release verified payments owed to contractors.

*Implement a transparent and reliable payment system for all future contracts.

*Hold ministries and agencies accountable for payment delays.

*Project shouldn’t be awarded, if fund is not available for it’s payment.

This is not just about settling debts — it is about reviving the economy, saving businesses, creating jobs, and restoring public trust.

General Bashexy echoing it loud and clear that…
🔊🔊🔊🔊
*The Renew Hope Agenda is a Goal*

*Asiwaju Jagaban Our own Mr. President, the time to act is now. Contractors have delivered. The government must honor its part.*

Related posts

[Music] Fireboy DML – Dopamine

Lagostrend

EGOSA HOSTS THE SECOND EDITION OF CHILDREN’S DAY, PROMOTING EXCELLENT PERFORMANCES

Lagostrend

Ibadan-based businessman, Lamidi Ajadi, is dead

Lagostrend

Leave a Comment