The Senate Committee on Local and Foreign Debts has frowned on what it described as lopsided payment to local contractors.
He requested explanation from the Ministry of Finance on the criteria used in carrying out such payment. Responding, the Minister of Finance, Mrs Zainab Ahmed, said in the 2018 Appropriation Act, a provision of N15 billion was made under the local debt and the ministry was able to pay about N5.4 billion to date and a total of 15 ministries, department and agencies had benefitted from it.
“We have tried to work so as to reduce local contractor debts to boost economy and provide employment. We are determined to ensure all debt payments are verifiable and justifiable,” the minister said. “A bulk of that has been spent. There is only a balance of N76,000 left that was mopped up. Capital expenditure N174.6 million and as at today no amount has been released,” Oniha said.