The 2023 presidential candidate of the Labour Party (LP), Mr. Peter Obi, has said that Nigeria’s economy will remain stagnant if the government continues to neglect its obligations.
Obi made the remark on Thursday in response to recent reports of local contractors protesting across Abuja and other parts of the country over unpaid bills for completed projects.
His words: “Most of these contractors are small and medium-sized businesses that are essential to the economy in various regions, comprising ordinary Nigerians who have delivered vital public services with the expectation that the government would honour its commitments.
“What is even more troubling is that this situation arises after President Tinubu publicly announced in August that Nigeria had ‘met and surpassed its revenue target for the year’. With such an impressive record, one would expect increased investment in the economy—specifically in education, healthcare, and programs that alleviate poverty. Yet, the government has still failed to pay contractors.”
Obi noted that a responsible government cannot claim record revenue while simultaneously leaving thousands of contractors unpaid, stressing that such contradiction highlights deeper issues related to transparency in Nigeria’s public finance management and governance.
“When a government fails to pay contractors, the consequences ripple through the entire economy. Medium and small businesses shut down, workers lose their jobs, families experience hardship, and the nation loses its productive capacity.
“We cannot build a strong economy when public funds are mismanaged, obligations are ignored, and local businesses are treated as expendable. If our revenue has indeed increased, it should be reflected in timely payments of obligations, the growth of micro, small, and medium enterprises (MSMEs), and reduced borrowing,” he stated.
The former Anambra State governor emphasised that meeting obligations to contractors is not optional but a test of honesty, competence, and true leadership, adding that a government that cannot fulfil its commitments cannot be trusted to build a nation.
He further urged leaders to honour obligations, manage resources with discipline, and create an economy that works for the people, asserting that this is how a nation rises.
