President Bola Tinubu is really concerned about the ₦1.5 billion debt owed to over 2000 contractors. He’s set up a high-level committee to resolve the issue and find a solution to pay them. The committee includes ministers from Finance, Budget, Works, Education, Housing, and Marine & Blue Economy, among others.
Tinubu wants a one-stop solution to clear the backlog, and he’s even considering borrowing to settle verified obligations. The Director-General of the Bureau of Public Procurement briefed the Federal Executive Council on the magnitude of the debt, prompting Tinubu’s directive.
This move aims to address the long-standing issue of unpaid contractors, who’ve been protesting and demanding payment for completed projects.
