Local contractors under the All Indigenous Contractors Association of Nigeria (AICAN) resumed protests on Monday over debts allegedly owed them by the Federal Government. The contractors blocked the main entrance to the Ministry of Finance in Abuja, demanding payment for completed projects.
They accused the government of betrayal, pointing fingers at the Minister of Finance, Wale Edun, for failing to honor commitments.
Speaking at the protest, AICAN National President Jackson Ifeanyi Nwosu said the government had promised to release payment warrants but failed to do so.
“We’ve given them all they needed. To date, we’ve not seen any warrants approved. That’s why we are back to the trenches,” Nwosu declared.
He criticized claims by the Minister of Finance that over 80% of debts owed to contractors had been settled. “As we speak, there are 204 capital projects. Only about 30–40% was paid. The warrants they released ended in May. From June to December, no warrants. Which payment did they make? No alerts. No single alert,” he said.
According to him, the only payment received was about ₦230 billion, released in February, which barely covered a fraction of the debt.
Economic Impact
Nwosu stressed that the debt burden was crippling contractors and threatening the economy. “We’re talking about over ₦4 trillion. There are so many projects completed that have not been paid. If they don’t kill us, the economy of this country will die,” he warned.
He explained that many contractors had borrowed heavily from banks to finance projects but were now unable to repay.
“Banks have seized most of their properties. Some contractors have died. We are ready for the worst. We are not leaving the streets. We will continue to be law-abiding,” he added.
The AICAN president alleged that funds meant for contractors were being diverted for political purposes.
“The president is aware of all that is happening. He’s getting reports every day. They have all the funds. They are invested in re-election. They are using contractors’ funds to fund their election. That is what it is,” Nwosu claimed.
The protest highlights growing tension between indigenous contractors and the government over unpaid debts, raising concerns about the impact on infrastructure projects and Nigeria’s fragile economy.
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