Senate Sets Up Committee to Engage Finance Ministry on Outstanding Payments to Contractors ‎

Senate Sets Up Committee to Engage Finance Ministry on Outstanding Payments to Contractors
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‎The Senate constituted a six-member committee on Tuesday to engage with the Federal Ministry of Finance and facilitate the reimbursement of outstanding payments owed to indigenous contractors for projects executed across Nigeria.
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‎By Rita Onuoha
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‎E-ISSN: 2354-4481
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‎The decision was announced by the President of the Senate, Godswill Akpabio, following a closed-door session of the upper legislative chamber.
‎According to Akpabio, the committee will be chaired by Senator Sani Musa, Chairman of the Senate Committee on Finance and representative of the Niger East Senatorial District.
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‎Other members of the committee include Senator Adetokunbo Abiru (Lagos East), Senator Kawu Sumaila (Kano South), Senator Sani Bello (Niger North), Senator Isah Jibrin (Kogi East), and Senator Yahaya Abdullahi (Kebbi North).
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‎The Senate President directed the committee to submit its report within one week, outlining the Federal Government’s efforts and progress toward settling verified outstanding obligations owed to contractors.
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‎Reports indicate that contractors under the umbrella of the All Indigenous Contractors Association of Nigeria (AICAN) estimate their unpaid certified claims at between ₦3 trillion and ₦4 trillion.
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‎However, the Federal Government has previously maintained that verified liabilities are significantly lower, citing an estimated ₦760 billion backlog relating to selected highway and legacy infrastructure projects.
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‎Meanwhile, the Minister of Finance and Coordinating Minister of the Economy, Wale Edun, has reiterated the Federal Government’s commitment to a transparent and structured process for the settlement of verified claims, assuring contractors that legitimate obligations will be addressed in line with available fiscal resources.
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‎The Senate’s intervention is expected to provide legislative oversight and facilitate constructive engagement between stakeholders as efforts continue to resolve the long-standing payment obligations and support ongoing infrastructure development across the country.