₦3.3trn Power Debt: Consultant Urges Tinubu to Pay Local Contractors
By Our Reporter
President Bola Ahmed Tinubu has been commended for approving the payment of about ₦3.3 trillion in legacy debts to power distribution companies, with a call to extend similar action to local contractors owed by the Federal Government.
In a statement on Sunday, consultant Abubakar Yusuf said many indigenous contractors who executed government projects remain unpaid, a situation he noted has caused severe hardship and financial distress.
He said the delay in settling verified obligations since 2024 has discouraged contractors, many of whom financed projects through bank loans after Tinubu assumed office in 2023.
Yusuf warned that continued non-payment could undermine contractors’ willingness to participate in future government projects, despite their contributions to infrastructure development.
He, however, expressed confidence in the administration and urged the President to prioritise the settlement of outstanding debts, noting that a bailout, if necessary, would demonstrate commitment to the welfare of Nigerians and sustain confidence in government patronage.
