<\/p>\n
Indigenous contractors under the umbrella of the All Indigenous Contractors Association of Nigeria (AICAN) have accused the Federal Government of diverting funds meant for project payments to finance President Bola Tinubu\u2019s re-election plans.<\/p>\n
The contractors alleged that over \u20a64 trillion owed to them by the Federal Government is being withheld and allegedly channelled into political activities ahead of future elections.<\/p>\n
POLITICS NIGERIA earlier reported on Monday that members of the association took to the streets again. They blocked the main entrance of the Federal Ministry of Finance in Abuja. The protest disrupted activities at the ministry for hours.<\/p>\n
The contractors said they were forced to resume protests after several failed engagements with government officials. They accused the administration of betraying earlier promises made to them through the Minister of Finance and Coordinating Minister of the Economy, Wale Edun.<\/p>\n
They also said the Ministry of Finance had consistently failed to honour payment obligations for projects already executed by indigenous contractors across the country.<\/p>\n
Speaking during the protest, AICAN National President, Jackson Ifeanyi Nwosu, expressed frustration over what he described as deliberate delay tactics by the government.<\/p>\n
He recalled assurances given by the Minister of State for Finance, Dr. Doris Uzoka-Anite, who, according to him, asked the contractors to submit required documentation for payment processing.<\/p>\n
He said, \u201cTo date, we\u2019ve not seen any warrants approved. So that\u2019s 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.\u201d<\/p>\n
Nwosu disputed that claim. He insisted that most contractors were yet to receive payment for jobs completed months ago.<\/p>\n
\u201cI think, as we speak, there are 204 capital projects. Only about 30- 40% was paid. The warrants that they released only ended in May,\u201d he said.<\/p>\n
He added that many contractors who worked between January and May were still unpaid, while no payment approvals were issued from June to December.<\/p>\n
\u201cMost 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 end\u00aded in February,\u201d he stated.<\/p>\n
According to him, the unpaid liabilities go far beyond what the government has acknowledged.<\/p>\n
\u201cWe\u2019re talking about over N4 trillion. There are so many other projects that have been completed that have not been paid,\u201d he said.<\/p>\n
Nwosu warned that the continued refusal to pay contractors could have severe consequences for the economy. He said many contractors took bank loans to execute government projects and are now facing asset seizures.<\/p>\n
\u201cThe next line of action is that if they don\u2019t kill us, the economy of this country will die,\u201d he said.<\/p>\n
He added that several contractors had lost their properties to banks, while others had reportedly died due to stress and financial pressure.<\/p>\n
\u201cWe 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,\u201d he added.<\/p>\n