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Wednesday, December 10, 2025

4trn debt: Angry contractors besiege Finance Ministry, demand N760bn payment

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By Progress Godfrey, Abuja

Angry contractors under the aegis of the All Indigenous Contractors Association of Nigeria (AICAN) have demanded a payment of N760 billion out of the total of N4 trillion they are being owed by the Federal Government of Nigeria.

The contractors urged the Minister of Finance, Mr Wale Edun, to fulfil his promise to release N760 billion as the first tranche of payment.

AICAN President, Mr Jackson Nwosu, who spoke through the association’s Secretary-General, Mr Babatunde Oyeniyi, said the minister gave the assurance during several meetings held after the association suspended its November 6 protest following the intervention of the Senate spokesperson, Sen. Adeyemi Adaramodu.

When Vanguard visited the ministry on Wednesday, the protest was already in its second day, with the entrance barricaded and sleeping mats and cooking items scattered around as contractors who camped overnight vowed they wouldn’t leave until their money was released.

“After our protest on November 6, which we suspended because of the Senate’s intervention, we have been in dialogue with the minister of finance on how he is going to pay us.

“But unfortunately, he has failed to honour his promise. He keeps saying he will pay, but nothing is forthcoming. That is why we are here protesting again,” he said.

He added that the ministry appeared to be considering combining their payment with other outstanding funds and postponing disbursement to 2026, which the association does not support.

“Our next line of action is what we are doing now. We will not leave these premises. We will continue every day until we are paid,” Nwosu added.

Also, AICAN Vice President, Mr Fredrick Agada, said he was concerned that the minister had not honoured the commitments made in previous meetings.

“He asked us to compile a list of our members entitled to the payment, which we submitted in hard copy.

“Unfortunately, he later asked us to interface with stakeholders. We asked who these stakeholders are, but he has refused to answer us,” Agada said.

A member of the association’s Media and Publicity Committee, Mr Innocent Asuelimen, said contractors invested heavily in the projects for which the government had already taken credit, yet payment remained outstanding.

“All we want is for our money to be released. The first phase of the project was funded 100 per cent, and the government has showcased it to Nigerians.

“We have lost members and veterans. Interest is running every day. Government should pay our money,” he said.

Deputy National President (North Central), Alhaji Abdullahi Yamani, also called for immediate payment, saying the delays were worsening the contractors’ plight.

The minister was yet to resolve the contractors’ concern as of press time.

The post 4trn debt: Angry contractors besiege Finance Ministry, demand N760bn payment appeared first on Vanguard News.

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