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Indigenous Contractors Storm Finance Ministry Over N500bn Unpaid Debts

Members of the All Indigenous Contractors Association of Nigeria (AICAN) blocked the Federal Ministry of Finance entrances on Tuesday, demanding immediate payment for long-overdue government projects, citing debts exceeding N500 billion.

Sagebitsonline

Led by the association’s National Secretary, Babatunde Seun-Oyeniyi, the contractors accused the Federal Government of reneging on repeated assurances to settle payments and accused officials of attempting to push disbursements into the 2026 fiscal year.

Speaking to journalists at the ministry, Oyeniyi said, “After multiple assurances from the Minister of Finance, Wale Edun, no payment has been made. Members of our association are owed more than N500 billion for completed projects. We have followed up six times, and despite sighting payment warrants, no funds have been released. We won’t leave until we are paid.”

The protest paralyzed access to the ministry, leaving staff and visitors stranded. Contractors carried placards reading: “Banks no longer have confidence in sponsoring government projects”, “Many contractors have lost their lives through suicide”, “You are killing small businesses, pay what you owe”. Other banners highlighted grievances, including: “It’s a crime against humanity for government not to pay contractors for about 360 days”, “Payment delays is fraud, not just injustice” and “No payment to contractor, no peace”.

Chants echoed the frustration of contractors: “Na our money we need o, we don’t need anything, Wale Edun pay us, Tinubu pay us.”

Oyeniyi further accused officials of deflecting responsibility back to the National Assembly, which had previously mediated in the dispute. He warned against continued delays, noting that some contractors faced severe financial hardship due to the outstanding payments.

Tensions have escalated in recent months. In November, contractors disrupted proceedings at the National Assembly, prompting a week-long suspension of plenary, citing unpaid funds for the 2024 and 2025 budget cycles.

The Ministry of Finance has yet to issue a formal response to Tuesday’s protest.

Author

  • Funmi Adewoju Suleodu

    Olufunmilayo Adewoju Suleodu is a veteran journalist, editor, and publisher with more than three decades of experience in journalism, communications, and public affairs.

    She has worked across news media, magazine publishing, communications, development-sector engagements, and digital journalism. She currently publishes SageBits Online and reports on governance, development, business, education, traditional institutions, and public affairs.

    She is also an elected officer of the Nigeria Union of Journalists (NUJ), Ogun East Independent Chapel, reflecting her continued engagement with the journalism profession and media development.

    Based in Ogun State, she is available for freelance reporting, feature writing, editorial assignments, research, project documentation, and development communications work.

    Detailed professional history and references are available upon request.

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Written by
Funmi Adewoju Suleodu

Olufunmilayo Adewoju Suleodu is a veteran journalist, editor, and publisher with more than three decades of experience in journalism, communications, and public affairs. She has worked across news media, magazine publishing, communications, development-sector engagements, and digital journalism. She currently publishes SageBits Online and reports on governance, development, business, education, traditional institutions, and public affairs. She is also an elected officer of the Nigeria Union of Journalists (NUJ), Ogun East Independent Chapel, reflecting her continued engagement with the journalism profession and media development. Based in Ogun State, she is available for freelance reporting, feature writing, editorial assignments, research, project documentation, and development communications work. Detailed professional history and references are available upon request.

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