By President Bola Ahmed Tinubu is facing growing pressure from federal contractors, who accuse the government of delaying payments, forcing them to halt work and incur heavy losses. They are calling for immediate intervention to prevent further financial ruin.
Speaking on behalf of the contractors, Austin Emegwagwa revealed that they have not received payments since October 2024. He criticized the new “bottom-up” payment method, stating that funds for November to March have yet to be released. According to him, less than 50% of the 2024 budget has been disbursed to ministries, departments, and agencies (MDAs).
Emegwagwa alleged that while most projects remain stalled due to lack of funding, the Lagos-Calabar coastal road project continues to receive payments. “We have never experienced such a long delay since the start of democracy in Nigeria. This has created uncertainty about the 2025 budget,” he said.
He further claimed that the government is prioritizing the Lagos-Calabar road while neglecting other critical projects. “It’s frustrating because many of us have invested huge resources, borrowed money at high interest rates, and are now at risk of bankruptcy,” he lamented.
Despite the removal of fuel subsidies, massive government borrowing, and naira devaluation, contractors insist they are still being denied their payments. Emegwagwa warned that if the situation continues, many contractors may not survive the financial strain.
He urged President Tinubu to direct the Minister of Finance, Wale Edun, to release payments immediately, especially as both Christians and Muslims observe Lent and Ramadan.
