The House of Representatives has stepped into the N4 trillion debt owed contractors by the Federa government and its agencies.
While the Federal government was urged to pay the debt owed its contractors, House Committees on Works, Aids, Loans and Debt Management, Finance and Appropriation are to investigate the debt and report back in four weeks.
The decision of the lawmakers followed the adoption of a motion by Chike Okafor (APC, Imo) yesterday.
Okafor, in his presentation noted with dismay cases of failure by the Federal government and its agencies to pay for contracts duly executed with Certificates of completion issued to the contractors.
He said: “It is a fact that contacts were duly awarded after passing through budgetary process and monies for their execution appropriated for the fiscal year in question
“We are also aware that the debt profile of the Federal government and its agencies to contractors is over N4 trillion
“The untold hardship these unpaid contractors were subjected due to the failure of the government and it’s agencies is of great concern because these contractors had borrowed money from banks to execute these projects”.
The motion was unanimously passed when it was put to voice vote by the Speaker, Yakubu Dogara.
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