Nigeria: Bail Us Out, Mr. President

26 September 2018

Lagos — Group Inaugurates New Exco

Please permit me to use this medium to congratulate Mr. President on the success recorded so far on the war against corruption. We are also aware of the measures being taken by the Present Administration to ensure that our economy is strengthened. However, it is pertinent to note that many well meaning Nigerians have suggested a whole lot of ideas which the country could adopt in order to get out of the current economic situation which has been in the doldrums for months. One of such strategies as suggested by experts is that the Federal Government should endeavor to pay the money it owes Local Contractors. This according to them will help in revamping the economy. In recent times, quite a number of contractors whom the banks have granted loans are now unable to service and repay their loans. The reason is because some of them are being owed by the government. A situation whereby a contractor is owed for a job done after many years, obviously, there is no way such contractor would not default in its loan repayment obligations and this is not healthy for the economy. Our company happens to be one of the local firms that are being owed by the government. Five years ago, our firm was awarded a contract by one of the Federal Ministries. The contract agreement was duly signed by both parties in line with due process. There was no mobilization fee so, we had to borrow money from a commercial bank at high interest rate in order to enable us execute the contract. The contract was successfully executed and a job completion certificate was issued to us.

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