Home Business Angry contractors storm Finance Ministry over unpaid debts
Business

Angry contractors storm Finance Ministry over unpaid debts

Share
Share


From Adanna Nnamani, Abuja

Members of the Indigenous Contractors Association of Nigeria, on Wednesday, staged a protest in Abuja over the non-payment of contracts executed for the Federal Government.

The demonstrators blocked the entrance of the Federal Ministry of Finance during business hours, preventing staff from gaining access to the building. The Minister of Finance and his convoy were also denied entry through the main gate when they arrived.

They carried placards with inscriptions such as, “You cannot grow the economy by starving its builders” and “National Assembly is folding their arms watching Nigerian contractors suffer injustice.”

The contractors, who said they had executed projects since 2024 without payment, demanded the immediate release of funds. They turned down attempts by the ministry’s Permanent Secretary to address them, insisting that the minister must personally respond to their grievances.

Although the minister eventually gained access to his office through an alternative gate, the protesters maintained their demand to be addressed directly by him.

On of the contractors, who pleaded anonymity, said only a handful of colleagues had received payment for jobs they executed over 12 months ago. He vowed that they would not relent until all outstanding debts were settled

He said, “That’s what I’m telling you now. If you pay a few people out of 1,000, is that payment?

“So, they have not paid, as far as we are concerned. As far as we, the indigenous contractors are concerned, we have not been paid. And that is why we have blocked everywhere in the Ministry of Finance, demanding for our payments.

“Almost a year after some of us have executed our projects, we are yet to be paid. We have explored every peaceful avenue to ensure that due process is followed. But yet, we have been torn down many times.

“The governments have not been consistent in their words to us, in their promises. They are not keeping it. That is why we are out. Demanding for what legitimately belongs to us. That is why we are here.”

Another protester, Charles Edo, said some contractors only received part payment of what they were owed last Friday.

He questioned why the ministry would settle a few while leaving others unattended.

Edo added that many contractors who took bank loans had already lost their profits, with several forced to borrow more to service earlier debts.

According to him, “Contractors are under the yoke of heavy debt burden because the profit margin allowed by the federal government in every contract has been eroded due to delay in payment.

“The profit margin is 40 per cent, so what is left if you collected a facility from the bank?”



Source link

Share

Leave a comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Related Articles

Tech, business leaders to brainstorm on data sovereignty at confab

By Chinenye Anuforo MTN is pushing for safer digital environment amid reports...

‘Arson in Plateau worsening housing crisis’

By Ikwunne Precious Chinasa Nigerians from different walks of life have expressed...

Cross-border trading cannibalising Africa’s travel market

By Chinelo Obogo    [email protected] For a long time, the National Association...

FG kicks off 2nd phase of Renewed Hope jobs programme for 41,000 Nigerians

From Adanna Nnamani, Abuja The Federal Government on Thursday, September 4, officially...