Tinubu orders N1.5tr payout to local contractors, sets up payment panel
President Bola Ahmed Tinubu has ordered the payment of N1.5 trillion owed to local contractors and set up a high level inter ministerial panel to tackle long standing delays in settling verified debts. The decision was taken at Wednesday’s Federal Executive Council meeting after the President was briefed on the scale of outstanding obligations. Presidential spokesman Bayo Onanuga said Tinubu was visibly unhappy that contractors had been left unpaid and demanded a “one stop” solution to the problem. Director General of the Bureau of Public Procurement, Dr Adebowale Adedokun, had earlier presented details of the backlog, prompting the President to constitute a special committee to clear the arrears and propose a sustainable funding plan. The committee includes Finance and Economy Minister Wale Edun, Budget and Economic Planning Minister Atiku Bagudu, Works Minister Dave Umahi, Education Minister Olatunji Alausa, Housing Minister […]