By Our Correspondent
President Bola Ahmed Tinubu has been urged to prioritize the payment of all outstanding debts owed to local contractors in the overall interest of Nigeria and its economy.
Concern has been raised over the difficulties faced by many local contractors as a result of delayed payments for completed projects. These delays have affected business operations, reduced capacity to sustain jobs, and slowed the delivery of key infrastructure and development projects across the country.
Observers note that settling these outstanding obligations would improve business confidence and boost economic activities, particularly within the construction and service sectors. Prompt payment would allow contractors to meet their financial responsibilities, including paying workers, suppliers, and lenders.
The call also points out that clearing these debts aligns with the federal government’s broader goals of economic recovery, job creation, and support for local enterprises. Addressing the issue is expected to strengthen cooperation between the government and indigenous contractors and contribute to steady national development.
