Umahi – Nigerian govt will clear N1.5tn debt owed contractors
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Umahi – Nigerian govt will clear N1.5tn debt owed contractors

The Minister of Works, David Umahi, has announced the establishment of six regional committees tasked with the review of outstanding debts totaling N1.5 trillion owed to road contractors. This comprehensive review is set to encompass the period before May 29, 2023, as well as the subsequent period up to the present day.

The disclosure was made through a statement signed by the Chief Press Secretary to the minister, Uchenna Orji, in Abuja on Sunday. The minister revealed this initiative during an in-house budget defense session with directors from the ministry, as part of their preparations for a presentation to the joint committees of the National Assembly scheduled for Monday.

Emphasizing the need for a specialized focus on the road sector beyond the budget allocated for 2024, Umahi highlighted the pivotal role of road infrastructure in driving economic growth. He underscored its potential impact on various sectors, including security, agriculture, trade and investment, as well as health and education, essential for a developing nation like Nigeria.

Expressing gratitude to President Bola Tinubu for prioritizing the ministry, Umahi acknowledged the approval of concrete pavement in the majority of the 2024 projects. He reaffirmed the ministry’s commitment to advancing road infrastructure in alignment with the Renewed Hope agenda.

Addressing the challenge of a substantial debt burden inherited from past administrations, amounting to N1.5 trillion, Umahi recognized the necessity of addressing these outstanding issues. Consequently, he established six committees, each corresponding to a geopolitical zone, tasked with reviewing all debts associated with unpaid certified certificates generated both before May 29, 2023, and from that date onward.

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