Socio-political activist, Aisha Yesufu, has advocated for the enactment of a law that would compel all levels of government in Nigeria to settle contractors’ invoices within 30 days of project completion or service delivery.
The proposal was contained in a post shared on Yesufu’s official social media page, where she argued that delayed payments to contractors have continued to affect businesses, infrastructure development and job creation across the country.
Yesufu suggested that any outstanding payment beyond 30 days should attract mandatory interest calculated at the prevailing Central Bank of Nigeria Monetary Policy Rate plus an additional five per cent.
“There is a need for a strong, enforceable law to be enacted that compels every tier of government to pay contractors all due invoices within 30 days, with mandatory interest on any delayed payment,” she stated.
She argued that many contractors complete projects only to face prolonged delays in receiving payment, a situation she said has pushed several businesses into financial difficulties.
“Contractors will deliver on their work only for governments to delay payments for months or years, pushing many businesses into distress and liquidation,” Yesufu said.
According to her, the proposed law would discourage the practice of using contractors as a source of unofficial credit for government projects.
“No more using contractors as unwilling bankers,” she added.
The activist further maintained that delayed payments to contractors remain a major challenge to economic growth, infrastructure delivery and employment generation in Nigeria.
‘No more using contractors as bankers’ — Aisha Yesufu pushes for new law