WorldStage– President Bola Tinubu has established a high-level committee to resolve a massive backlog of about N1.5 trillion in payments owed to over 2,000 federal contractors.
The development was disclosed in an announcement made by Bayo Onanuga, the Special Adviser to the President on Information and Strategy, after a Federal Executive Council (FEC) meeting.
The president expressed “grave displeasure” with the situation and demanded a one-stop solution to clear the debts for completed projects.
He also directed the panel to verify the claims, streamline payments, and recommend a sustainable framework to prevent future debt accumulation.
According to Onanuga in the announcement, Tinubu set up the high-level panel to tackle significant outstanding payments to federal contractors.
The debt is estimated at roughly N1.5 trillion owed over 2,000 contractors.
He conveyed “grave displeasure” and insisted on a swift, comprehensive resolution.
This initiative signals the government’s focus on settling financial obligations to its contractors and ensuring accountability in public project payments.
