Amanze Chinonye
A coalition of aggrieved Nigerian contractors under the aegis of Concerned Contractors Owed by the Federal Government has raised the alarm over the continued non-payment of debts owed to local contractors, lamenting the impact on their operations and sustainability.
The group accused the Federal Government of prioritising the payment of foreign firms while local businesses suffer.
Join our WhatsApp ChannelSpeaking on behalf of the group, Convener, Jackson Nwosu, expressed frustration over the government’s alleged selective disbursement of funds.
Nwosu said that despite repeated appeals and mounting interest on bank loans, many indigenous contractors have yet to be paid for projects executed across ministries, departments, and agencies.
“We are appealing to President Bola Ahmed Tinubu to intervene and ensure that we are paid. Many of us borrowed from financial institutions to fund federal contracts. The burden of repayment is crushing us,” Nwosu stated in a press briefing held on Monday in Abuja.
According to Nwosu, several local contractors have completed and delivered government-approved projects, some dating as far back as previous administrations, but have continued to face silence from the relevant authorities responsible for payment.
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He further lamented that while local firms await their dues, the Federal Government appears to be fulfilling its financial obligations to international contractors, raising concerns about transparency and patriotism in the handling of public funds.
“We do not understand why the government is settling foreign contractors while neglecting Nigerian businesses that have invested time, resources, and labor to complete critical infrastructure projects,” he said.
The group called on the President to direct the Ministries of Finance and Works, as well as the Bureau of Public Procurement (BPP), to urgently conduct a review of all outstanding payments to local contractors and set in motion a payment plan to avoid further damage to indigenous businesses.
Industry experts have also warned that continued neglect of local contractors could lead to job losses, halted infrastructure development, and increased loan defaults within the banking sector.
Amanze Chinonye is a Staff Correspondent at Prime Business Africa, a rising star in the literary world, weaving captivating stories that transport readers to the vibrant landscapes of Nigeria and the rest of Africa. With a unique voice that blends with the newspaper's tradition and style, Chinonye's writing is a masterful exploration of the human condition, delving into themes of identity, culture, and social justice. Through her words, Chinonye paints vivid portraits of everyday African life, from the bustling markets of Nigeria's Lagos to the quiet villages of South Africa's countryside . With a keen eye for detail and a deep understanding of the complexities of Nigerian society, Chinonye's writing is both a testament to the country's rich cultural heritage and a powerful call to action for a brighter future. As a writer, Chinonye is a true storyteller, using her dexterity to educate, inspire, and uplift readers around the world.
