N4trn debt: Local contractors accuse FG of expending payment funds for re-election

Local contractors under the aegis of the All Indigenous Contractors Association of Nigeria, on Monday, resumed their protest over debt being owed by the Federal Government amounting to over N4 trillion.

The protesting contractors blocked the main entrance to the Ministry of Finance on Monday.

They claimed the Federal Government betrayed them through the Minister of Finance, Wale Edun

The contractors were protesting government’s failure to pay them for projects executed.

National President of AICAN, Jackson Ifeanyi Nwosu, while addressing members at the venue, said the Minister of State for finance, Dr Doris Uzoka-Anite, promised that they would release the warrants and asked them to come up with their lists, saying, “We’ve given them all they needed.”

He added, “To date, we’ve not seen any warrants approved. So that’s why we are back to the trenches. Mr. Wale Edun told the Senate committee that the money that the federal government is owing indigenous contractors, over 80% of the money has been paid.

“I think, as we speak, there are 204 capital projects. Only about 30-40% was paid. The warrants that they released only ended in May.

‘Most people from January to May have not received payment. So between June and December, no warrants. So, which payment did they make? No alerts. No single alert. The only ones we received was about N230 billion they released. And that only ended in February.

“We’re talking about over 4 trillion. There are so many other projects that have been completed that have not been paid.

“The next line of action is that if they don’t kill us, the economy of this country will die. Most of these contractors have collected funds from banks, and could not even pay. Banks have seized most of their properties. So, some have died. We are ready for the worst. We are not leaving the streets. We are ready for the worst. And we will continue to be law-abiding.

‘The president is aware of all that is happening. He’s getting news, even from DSS. He’s getting reports everyday. He knows what he’s doing with the funds. The president knows what is happening. They have all the funds. They are all invested in re-election. They are using contractors’ funds to fund their election. That is what it is.”