FG to Clear #2trn Debt Owed Contractors- Osinbajo

Vice President Prof. Yemi Osinbajo has assured contractors that the Federal Government  was actively exploring options on how best to liquidate the debts owed contractors across the country, including the use of bonds.

The Federal Government was owing over N2 trillion to contractors mainly on road construction.

This was disclosed in a meeting with the members of the Tactical Committee on Recession  from House of Representatives yesterday to discuss the economy and particularly possible ways of navigating Nigeria out of recession. The members were led by Committee Chairman, Dr. Bode Ayorinde, in what they said was a visit to promote cordiality and progressive synergy between the National Assembly and the Presidency.

Addressing the issue of corruption and its attendant impact on development, Osinbajo said, “it is in our interest to deal with corruption. This is not moralising, it is an existential threat, it is a survival issue.” He said, “we need to address the fundamentals of that abnormality. If we do not address it, no matter what we say, things won’t work. I think it is very important, especially for us who are in government today either as legislature or executive, to address this issue.