President Bola Tinubu has created a high-level committee to address the contractor debt crisis after learning that the federal government owes about N4 trillion to nearly 2,000 contractors. Moreover, the President expressed strong displeasure over the scale of the backlog and demanded an urgent, coordinated solution.
Tinubu Unhappy With Rising Contractor Debt
Bayo Onanuga, Special Adviser on Information and Strategy, briefed State House correspondents after the Federal Executive Council meeting in Abuja. According to him, the President became visibly upset when the Director-General of the Bureau of Public Procurement revealed the number of unpaid contractors.
Onanuga said Tinubu made it clear that he wants a “one-stop solution” to the problem. Furthermore, the President insisted that the administration must find funds quickly to settle verified outstanding commitments.
Ministers Ordered to Deliver a Clear Fix
During the meeting, Tinubu directed ministers to study the debt profile and propose practical steps to clear the contractor debt. He stressed that the federal government must end delays that slow down major infrastructure and service delivery projects.
Consequently, key ministries will collaborate to determine the accurate figures, verify claims and propose a payment framework that aligns with current revenue realities.
Members of the High-Level Debt Committee
The newly formed committee includes top government officials:
- Wale Edun — Minister of Finance and Coordinating Minister of the Economy
- Atiku Bagudu — Minister of Budget and Economic Planning
- Dave Umahi — Minister of Works
- Olatunji Alausa — Minister of Education
- Ahmed Dangiwa — Minister of Housing
- Gboyega Oyetola — Minister of Marine & Blue Economy
- Tanimu Kurfi — Director-General, Budget Office
- Zacch Adedeji — Chairman, Federal Inland Revenue Service
Additionally, the team will review previous commitments, assess the government’s cash flow and recommend immediate and long-term payment strategies.
A Push for Financial Clarity
Tinubu believes that clearing the debt will restore confidence among contractors, accelerate stalled projects and strengthen economic stability. Therefore, the committee is expected to submit its recommendations without delay.
