Contractors under the All Indigenous Contractors Association of Nigeria (AICAN) have warned that delayed payments for federal projects threaten jobs, economic growth, and could exacerbate social vices like insecurity.
The contractors resumed protests in Abuja on Monday, barricading the Federal Ministry of Finance to demand the release of over N4 trillion owed for projects executed under the 2024 budget.
AICAN National Executive Member, Mr. Johnson Akinsehinwa, stated that only about 50% of the 2024 budget has been executed, and delayed payments weaken the economy, expose contractors to losses, and fuel unemployment. He linked the situation to potential increases in banditry and insurgency, particularly among idle youths.
Another executive, Mr. Saidu Jega, emphasized that government MDAs are central to resolving the issue, as timely payments are crucial for sustaining jobs and livelihoods across many sectors.
The contractors have vowed to continue their demonstration until payments are made.
Disclaimer: This report is based on the Vanguard News article “Delayed payments threaten jobs and economic growth, contractors warn.” CDA News Nigeria does not claim ownership of the original reporting.
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