Nigerian Govt Will Clear N1.5tn Owed Contractors – Umahi Assures
The Minister of Works, David Umahi has announced that he has set up six regional committees to review all N1.5tn debts owed road contractors, before May 29, 2023, and from then till date.
This was contained in a statement signed by the Chief Press Secretary to the minister, Uchenna Orji in Abuja on Sunday.
The minister gave the hint during an in-house budget defence with directors in the ministry, in preparation for their presentation to the joint committees of the National Assembly slated for today, Monday.
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Umahi noted that the road sector needed a different kind of attention beyond the 2024 budget envelope received by the ministry.
For a developing nation like Nigeria, Umahi noted that road infrastructure development remained a catalyst for economic growth and had the potential to improve security, agriculture, trade and investment, as well as health and education.
Umahi further thanked President Bola Tinubu for the attention given to the ministry and his approval of concrete pavement in most of the 2024 projects.
He said, “the ministry is committed to the development of road infrastructure in line with the Renewed Hope agenda.
“The huge debts arising from unpaid certificates inherited from the past administration, which run up to N1.5 trillion up till date and the expected contract reviews arising from inflation, these two factors are recognised in the ministry as issues that must be confronted in order to move forward.
Umahi set up six committees, one per geopolitical zone, to review all debts of unpaid certified certificates generated before May 29th, 2023, and from May 29, 2023, to date.
