Reps raise alarm over n300bn owed contractors

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Reps Raise Alarm Over N300bn Owed Contractors

The House of Representatives has raised alarm over the alleged non-payment of N300 billion owed to contractors by the Federal Government. The lawmakers expressed concern that the outstanding debt could lead to a collapse of the construction industry and affect the nation's economy.

The Chairman of the House Committee on Works, Hon. Mukhtar Betara, made the revelation during a meeting with the Minister of Works and Housing, Mr. Babatunde Fashola, on Tuesday. Betara said that the committee had received numerous complaints from contractors who had not been paid for their services, despite completing projects.

"We have been receiving complaints from contractors who have not been paid for their services, despite completing projects. This is unacceptable and could lead to a collapse of the construction industry," Betara said.

The lawmaker added that the outstanding debt was not only affecting the contractors but also the economy, as it was stifling the growth of the construction sector.

Fashola, who was represented by the Permanent Secretary of the Ministry, Mr. Abubakar Magaji, assured the committee that the ministry was doing everything possible to resolve the issue.

"We are doing everything possible to resolve the issue of outstanding payments to contractors. We understand the importance of timely payment to contractors and we are working to ensure that all outstanding payments are made," Magaji said.

The committee has given the ministry a deadline of two weeks to resolve the issue and pay all outstanding debts to contractors.

The development is coming at a time when the construction industry is facing challenges, including lack of funding and inadequate infrastructure. The industry is a major driver of economic growth and development, and any collapse could have far-reaching consequences for the nation's economy.

The lawmakers have also called on the Federal Government to establish a special fund to cater for the needs of contractors, including payment of outstanding debts.

"We need to establish a special fund to cater for the needs of contractors, including payment of outstanding debts. This will help to boost the construction industry and stimulate economic growth," Betara said.

The development is a major concern for the construction industry, which is a major driver of economic growth and development. The industry is facing challenges, including lack of funding and inadequate infrastructure, and any collapse could have far-reaching consequences for the nation's economy.

The lawmakers have also called on the Federal Government to establish a special fund to cater for the needs of contractors, including payment of outstanding debts.

"We need to establish a special fund to cater for the needs of contractors, including payment of outstanding debts. This will help to boost the construction industry and stimulate economic growth," Betara said.

The development is a major concern for the construction industry, which is a major driver of economic growth and development. The industry is facing challenges, including lack of funding and inadequate infrastructure, and any collapse could have far-reaching consequences for the nation's economy.