Tinubu Takes Action on $1.5 Billion Debt Owed to Contractors

Former Lagos State Governor, Bola Tinubu, expressed dissatisfaction over a debt backlog of about $1.5 billion owed to federal contractors. He directed the establishment of a high-level committee, including key ministers, to address the payment delays affecting approximately 2,000 contractors.

The Federal Executive Council meeting in Abuja highlighted the urgency to find solutions and allocate funds to pay the contractors. Tinubu emphasized the need to investigate the root causes of the debt issue despite reported revenue increases.