Contractors Warn of Asset Seizures as Government Payment Delays Persist
Hundreds of Nigerian contractors are at risk of losing their assets to banks and private lenders following months of unpaid government debts, the Indigenous Contractors Association of Nigeria has warned.
In a communiqué issued after an emergency meeting in Abuja, the association accused government officials of misrepresenting the status of cleared liabilities, stressing that while warrants for February and March have been transmitted, those for April to July remain pending.
The group said the situation has left many members financially stranded, with loan defaults piling up. It also alleged that several projects completed in 2024 have yet to be uploaded or paid for, contrary to government claims.
Although the association has suspended its planned nationwide protest, it insisted that its patience is wearing thin. It demanded the immediate release of April to July warrants, full cash backing for cleared payments, and guarantees for contractors still working on delayed projects.
“The government must act urgently to prevent further economic hardship,” the communiqué stated, warning that peaceful protests will go ahead if the issues remain unresolved.
As of press time, the Ministry of Finance had not responded to the contractors’ ultimatum.
