A group of legal practitioners have solicited for payment of contractors after their execution of projects for various government agencies in Abuja.
The lawyers, under the aegis of the Concerned Lawyers for Probity and Justice, disclosed that a delay in payment for their work is a threat to their livelihoods, economic stability as well as public confidence in government obligations.
The group held that the contractors have been owed an estimated N4 trillion despite repeated engagements with relevant authorities, adding that the unwanted situation has escalated financial stress on them and their dependents.
They also stated that the condition has weakened employment, supply chains and productivity within the construction sector and relevant industries.
In a joint protest with the All Indigenous Contractors Association of Nigeria in FCT on Thursday, one of the lawyers, Precious Okoro, held that some of the contractors had gotten their disbursements, but a large chunk of them still have not yet received full settlement.
“The group is facing lots of challenges,” Okoro stated.
“Contractors who borrowed from banks at a high rate to fund these projects now face relentless loan defaults, with banks seizing homes, vehicles and other assets,” she added and continued, ”When payments stall, jobs disappear, purchasing power drops, local markets suffer and economic growth slows.
”A nation that starves its own builders starves itself of progress.” the remonstrator concluded.
The group called on President Bola Tinubu to wade in into the matter, citing the provisions in Section 15(5) of the Constitution to buttress their requests.