The All Indigenous Contractors Association of Nigeria (AICAN) has vowed to sustain its demonstrations until the Federal Government settles what it claims is an outstanding debt of ₦4.7 trillion.
On Monday, members of the association staged a protest at the Federal Ministry of Finance in Abuja, accusing the government of failing to release funds allocated to them in the 2024/2025 budgets.
AICAN President, Jackson Ifeanyi, speaking on Channels Television’s The Morning Brief on Tuesday, said many contractors had borrowed heavily from banks and were now losing their assets. “Most of our members borrowed heavily from banks and are now losing their properties. We will continue to occupy until all verified payments are settled,” he declared.
He alleged that the government issued payment “warrants” without cash backing, describing them as “dud checks.” “Government gives warrants without cash backing. It’s like giving a check that you can’t cash at the bank. This system is killing the real sector and real investors,” he added.
The protest is a continuation of earlier demonstrations at the National Assembly and the finance ministry in November 2025. Contractors insist that most completed and commissioned projects remain unpaid.
Although President Bola Tinubu set up a committee last month to address the debt, estimated then at ₦1.5 trillion, Ifeanyi dismissed the move as a distraction. “Whenever the government sets up a committee, it is often to divert attention. As we speak, no payment has been made. If any was made, it probably went to foreign contractors. Our calculation shows the debt is over ₦4.7 trillion,” he said.
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