The Senate on Tuesday constituted a six-member committee to liaise with the Federal Ministry of Finance and facilitate the reimbursement of outstanding payments owed to local contractors for projects executed across the country.
The Senate President, Godswill Akpabio, announced the committee after a closed-door session.
Akpabio said the committee would be chaired by the Chairman of the Senate Committee on Finance, Sani Musa, who represents Niger East Senatorial District.
Other members of the committee are Sen. Adetokunbo Abiru (APC-Lagos), Sen. Kawu Sumaila (APC-Kano), Sen. Sani Bello (APC-Niger), Sen. Isah Jibrin (APC-Kogi) and Sen. Yahaya Abdullahi (APC-Kebbi).
The senate president directed the committee to submit its report within one week, detailing the federal government’s efforts toward settling the outstanding debts owed to the contractors.
themomentng reports that contractors, operating under the umbrella of the All Indigenous Contractors Association of Nigeria (AICAN), state that their outstanding, certified liabilities exceed ₦3 trillion to ₦4 trillion.
However, the Federal Government has previously cited lower verified figures, including acknowledging an estimated ₦760 billion backlog for certain highway and legacy contracts.
The Minister of Finance and Coordinating Minister of the Economy, Taiwo Oyedele, recently assured local firms of a transparent, structured payment process for verified claims.
