Indigenous contractors picket Finance Ministry over unpaid ₦1.6trn debt

By Matthew Denis

The All Indigenous Contractors Association of Nigeria (AICAN) staged a defiant protest at the entrance of the Federal Ministry of Finance on Tuesday, demanding the immediate settlement of arrears for 2024 capital projects.

The contractors, who claim the Federal Government owes them over ₦1.6 trillion, have vowed to sustain their demonstration until every kobo is paid.

Led by National President Jackson Ifanyi Nwosu, the protest highlighted the escalating financial crisis gripping local firms.

Nwosu emphasized that the delay has pushed many indigenous businesses to the brink of collapse, with several members facing property seizures and total operational shutdowns.

“We have completed these projects in good faith, yet the government continues to withhold payment. Our members are suffering; some have lost their livelihoods entirely while waiting for the state to honor its side of the contract,” Nwosu stated during the demonstration.

The agitation persists despite recent assurances from the Minister of Finance, Wale Edun, who reportedly pledged that payments would be processed via the Remita platform within hours.

The contractors remained skeptical of the Minister’s timeline, noting that similar promises in the past have gone unfulfilled. They have committed to occupying the ministry throughout the week until the backlog of arrears is cleared.

As of Tuesday evening, the Ministry of Finance had not issued an official response to the picketing.

However, a follow-up conversation with AICAN General Secretary, Mr. Babatunde Seun, confirmed that no payments had been initiated by the close of business.

This lack of action, contrary to the Minister’s earlier guarantee, has further fueled the resolve of the protesting contractors, who warn that continued delays will destabilize the construction sector and deepen the economic hardships facing Nigerian businesses.