AD

N500bn Debt Fury: Contractors Storm Finance Ministry

Local contractors under the All Indigenous Contractors Association of Nigeria on Tuesday besieged the Federal Ministry of Finance, sealing off both entrances as they demanded immediate payment for what they described as long-outstanding debts on completed government projects.

Led by the association’s National Secretary, Babatunde Seun-Oyeniyi, the contractors accused the Federal Government of repeatedly reneging on promises made during several meetings. Oyeniyi told journalists that the group had no choice but to resume protests after multiple assurances from government officials failed to materialise into payment.

He revealed that members were owed over N500 billion for projects already completed and handed over. Despite recent interventions by the National Assembly and assurances from Minister of Finance Wale Edun, he said not a single payment had been released.

“After the National Assembly stepped in, we were told the minister would address the issue, so we suspended our protest,” Oyeniyi said. “But after more than six visits to this place, including an overnight stay last week, nothing has changed.”

Also Read: http://Rivers State Inaugurates 15-Member Employment Monitoring Committee

He added that although payment warrants had been issued, they had not been cash-backed. “The minister even said that N150bn was available to begin paying indigenous contractors. We don’t understand why there are still delays,” he stated.

Oyeniyi alleged that officials were attempting to push the payments into the 2026 fiscal year—an action he said would further plunge contractors into debt. “We won’t accept being shifted into a backlog. We won’t leave here until we are paid,” he insisted.

Protesters carried placards with bold messages such as “Banks no longer support government projects,” “Contractors are dying from frustration,” “Pay us our money,” and “No payment, no peace.” Their chanting brought activities in and around the ministry to a halt, leaving staff and visitors stranded outside the blocked gates.

The dispute between contractors and the government has intensified over the past months. In November, the House of Representatives suspended plenary for a week after contractors stormed the National Assembly, alleging the non-release of 2024 and 2025 budgeted funds.

As of Tuesday evening, the Ministry of Finance had not issued an official response to the latest protest.

Oh hi there 👋
It’s nice to meet you.

Sign up to receive awesome content in your inbox.

We don’t spam! Read our privacy policy for more info.

More Top Stories

Osimhen Out of Hospital After Successful Surgery, Eyes Quick Return
Osimhen Backed for Man United Move as Butt Says He Can Elevate Sesko
Drama Erupts as Verydarkman Fires Back at Blessing CEO Over Cancer Claim
Kpai Them All!” — Sarian Martins Unleashes Fury, Links Blessing CEO’s Illness to ‘Spiritual Payback’
Nwaiwu Earns Super Eagles Call-Up as Bassey Withdraws Ahead of Iran, Jordan Friendlies
Super Eagles star Alex Iwobi Leads 7-Man Premier League Player of the Month Shortlist
Delta Queens Edge FC Robo In Five-Goal Thriller to Boost Super Six Push
‎Injury knocks out ‘Super’ Calvin Bassey as Eagles suffer Int’l Friendlies blow‎
Osimhen Set for Race Against Time as Galatasaray Target Quick Return
Super Eagles Open Camp in Turkey Ahead of Iran, Jordan Friendlies
Chukwueze Set for Permanent Fulham Move After Impressive Loan Spell
Rivers United Humiliated as Nasarawa United Run Riot in 4–1 Thriller
‎Chelle can win next AFCON, He deserves a new contract –Ibitoye‎
‎Rivers United blame CAF Champions League for slump‎
Morocco National Team Captain Rejects AFCON Title, Backs Senegal as True Champions
‎Title race heats up as Rivers, Rangers face defining fixtures‎‎
Oborevwori Denies Assaulting Kickboxing Coach in Reimbursement Row
‎NFF faces court notice over congress misconduct‎
FULL CIRCLE AT WEMBLEY: ARSENAL, MAN CITY AND A FINAL LOADED WITH HISTORY
Finidi George Under Pressure as Rivers United’s Title Grip Slips
Osimhen Injury Shifted Momentum as Liverpool Power Through-Slot
Rivers United Stumble Again as Niger Tornadoes Strike Late to Deepen Title Tension
‎Ademola Lookman Cruise into UCL Q’finals, Osimhen Crash out‎
CAF Strips Senegal of AFCON Title, Crowns Morocco Champions After Dramatic Final Controversy
Ikorodu City Dominate Rivers United to Seal Crucial Home Victory
Rivers United Confront Tough Ikorodu City Test as NPFL Title Race Reaches Boiling Point
Obi Mikel Demands NFF Leadership Resignation After Nigeria’s World Cup Failure
Super Eagles Calvin Bassey is a beast” –Bryan Mbeumo‎
Ibinabo Fiberesima Opens Auditions For Web Series In Port Harcourt
Tinubu, NFF Mourns Former Super Eagles Coach Adegboye Onigbinde
Lemina Header Sinks Liverpool as Galatasaray Claim Crucial First Leg Victory
D’Tigress Arrive Lyon Ahead Of 2026 FIBA Women’s World Cup Qualifying
NPFL: Rivers United Trash Bendel Insurance to Remain Top
Rivers State’s Development Mirage: Showpiece Projects, Asphalt Dreams
Structure, Not Travel, Attracts Investment
Private Universities Shine: Covenant University Leads, ABUAD and MAAUN Follow
‎Rivers Utd get new Rivals as Doma Utd, Ranchers Bees Rejoin NPFL Elite‎
IYC Backs Tantita, Urges FG to Sustain Pipeline Gains
ICPC To Arraign Ex-Governor El-Rufai On 10-Count Fraud Today

Leave a Reply

Your email address will not be published. Required fields are marked *