Senate committee, FG to meet over N4trn debts owed contractors

The Senate on Tuesday constituted a six-member committee to liaise with the finance ministry and facilitate the reimbursement of outstanding payments owed to local contractors for projects executed across the country.

The Senate president, Godswill Akpabio, announced the committee after a closed-door session. Mr Akpabio said the committee would be chaired by the chairman of the Senate Committee on Finance, Sani Musa, who represents the Niger East senatorial district.

Other members of the committee are Adetokunbo Abiru (APC-Lagos), Kawu Sumaila (APC-Kano), Sani Bello (APC-Niger), Isah Jibrin (APC-Kogi) and Yahaya Abdullahi (APC-Kebbi).

The Senate president directed the committee to submit its report within one week, detailing the federal government’s efforts to settle the outstanding debts owed to contractors.

The contractors operating under the umbrella of the All Indigenous Contractors Association of Nigeria state that their outstanding, certified liabilities range from ₦3 trillion to ₦4 trillion.

However, the federal government previously cited lower verified figures, including acknowledging an estimated ₦760 billion backlog for certain highway and legacy contracts.

Finance minister Taiwo Oyedele recently assured local contractors of a transparent, structured payment process for verified claims.