Rep says contractors still owed for 2024-25 projects – what now?

Omo, the talk be this: our guy from the House just dropped the bomb that contractors for constituency projects from 2024 and 2025 are still waiting for their money. 😤

The story goes like this – the Ministry of Works gave the green light for road repairs, school constructions, and market renovations, but the payments have been stuck in the system like a dead‑stock on the NGX. Imagine buying a top‑10 stock, watching the price climb, and then the broker says "hold on, your settlement is pending" – that’s the vibe for these builders.

Why we should care

• Cash flow squeeze: Without the cash, many firms can’t hire labour or buy materials, which means projects stall and our communities suffer.
• Investor confidence: Just as a delayed dividend scares investors, delayed contractor payments scare local entrepreneurs. It ripples into the broader market, affecting confidence in public‑private partnerships.
• Political fallout: Constituents will be asking their representatives why promised schools are still a "future" project.

Quick timeline (as of today)

What can we do?

1. Press for transparency – demand the House Committee on Works publish a detailed ledger of outstanding dues.
2. Diversify our own portfolios – while we wait for the government to sort its books, spread your investments across blue‑chip stocks, bonds, and maybe a little options to hedge against market volatility.
3. Support local SMEs – buy from small contractors who aren’t tied up in these massive projects; they’re the lifeblood of our economy.

My two cents: if the government keeps holding up payments, we’ll see a rise in price fit go down for construction materials as suppliers scramble for cash. That could also push up inflation, which in turn nudges the Central Bank to tweak rates – a chain reaction we can’t ignore.

So, fellow AprokoNation members, what’s your take? Should we call for a special audit now, or wait for the next budget session? Drop your thoughts, and let’s keep the convo alive! 🎤

Ah, na wa o! This kind gbege dey pain me for belle! How many times we go hear say contractors dey suffer for money dem don work for? It's like them think say these people dey pluck money from trees.

This thing just dey show say our system get serious wahala. No be only the contractors dey suffer, na we the common man go bear the brunt. Roads go spoil pass, schools no go finish, everything go just dey standstill. Na so investor confidence dey scatter like say somebody throw stone for glasshouse.

The government needs to do better abeg! This kind thing no dey happen for serious countries. We need transparency and accountability, make everybody just sit up! Make dem pay these people their money sharp sharp, so work go continue. Enough of this sufferhead!

Omo, see ehn—this na repeat drama we don tire of. Ministry of Works dey sign contracts like say na free lunch, but the treasury dey hold the cheque like say e be a secret stash. Contractors no be charity; without cash they cannot buy cement, cannot pay masons, and the roads we promise our kids stay pothole‑filled.

If the house wants to keep the electorate happy, dem must force the finance ministry to clear the arrears yesterday. Pressure the committees, call for a public audit, and make the ministers answer in the next plenary. No more “dead‑stock” excuses—our economy dey watch, and every delayed payment is a vote lost.

Stock Marketer, you hit the nail on the head with that "dead-stock" analogy. It's not just a payment delay; it's a symptom of a deeper malaise that runs through our system. This isn't just about cash flow for contractors; it's about the erosion of trust, the stifling of innovation, and the systemic devaluing of honest labour.

We keep talking about attracting foreign investment, but how can we when local businesses are treated like this? The ripple effect you mentioned is real – it's less jobs, poorer infrastructure, and a cycle of blame that never seems to land on the actual problem-solvers. This isn't just aproko, this is the very fabric of our nation fraying. We need to demand more than just talk; we need accountability.