By Matthew Denis
The Federal Government is facing an imminent shutdown of critical economic sectors as the All Indigenous Contractors Association of Nigeria (AICAN) has declared a total war on debt, laying siege to the Federal Ministry of Finance headquarters in Abuja.
The contractors are demanding the immediate settlement of an alleged ₦4 trillion backlog for executed contracts, warning that the government’s continued default is driving the nation’s infrastructure sector toward collapse.
The escalating crisis took a dramatic turn on Monday when aggrieved contractors, led by their National President, Mr. Jackson Nwosu, barricaded the main entrance of the ministry.
Deploying vehicles, canopies, and plastic chairs, the group effectively grounded activities at the complex, vowing to occupy the premises indefinitely until their demands are met.
Mr. Nwosu painted a grim picture of the industry, stating that the government’s neglect has moved beyond a financial issue to a matter of life and death.
He revealed that the liquidity crunch has forced banks to seize the properties of many contractors, while the stress of insolvency has reportedly led to the deaths of several members.
“If they don’t kill us, the economy of this country will die. We are ready for the worst. We are not leaving the street. We will continue to be law-abiding in our peaceful protest, but we must ensure every contract is paid. We are the ones who borrow money and fund projects, keeping funds within the country, while foreign contractors execute projects and take the money outside. Yet, we are being destroyed,” Nwosu warned.
The association vehemently rejected any further referrals to the Debt Management Office (DMO), demanding the same direct payment treatment accorded to foreign firms.
Nwosu described the current payment system as discriminatory and actively harmful to local content development.
The protest also served as a rebuttal to recent government claims regarding debt servicing.
The contractors disputed the assertion by the Minister of Finance, Mr. Wale Edun, to the Senate Committee that over 80 percent of debts to indigenous contractors had been cleared. AICAN insists this is factually incorrect.
“As we speak, there are 204 completed projects, and if any payment has been done, it is merely 30 to 40 percent. Over 60 percent remains unpaid,” Nwosu explained.
He noted that warrant releases ceased in May 2025, and despite President Bola Tinubu’s directives, no significant payments were made between June and December 2025.
The group claimed that even the much-publicized ₦230 billion release ended in February, leaving a massive void for the rest of the year.
Specific frustration was directed at the Minister of State for Finance, Dr. Doris Nkiruka Uzoka-Anite.
The contractors accused her office of reneging on agreements to release warrants after the association submitted a verified list of completed projects.
The situation worsened when the government’s payment portal closed for the year on December 31, 2025, without settling the pending accounts.
Vice President of the Association, Mr. Fredrick Agada, expressed deep disappointment in the administration’s handling of the crisis.
“We have contributed to the growth of the economy of this country. We supported the government, but it is unfortunate. We will return with our caskets if necessary,” Agada stated, calling on the international community to intervene in what he termed a pathetic situation that has lingered since June 2025.
The crisis has also enveloped the Federal Capital Territory administration. Mr. Adebola Benson, the FCT Chairman of Indigenous Contractors, made an urgent appeal to FCT Minister Nyesom Wike to clear the backlog of debts, citing the same aggressive pressure from financial institutions that is crippling contractors at the federal level.
As the siege intensified on Monday, the urgency of the standoff forced a reaction from the government.
At the time of filing this report, the leadership of the contractors had entered a closed-door meeting with the Minister of State for Finance, Dr. Uzoka-Anite, in a last-ditch effort to resolve the impasse and avert a wider economic shutdown.