Aisha Yesufu Calls for Law Mandating 30-Day Government Contractor Payments
Aisha Yesufu posted on her social media urging Nigeria’s federal, state and local governments to enact a law that compels them to settle contractors’ invoices within 30 days of project completion or service delivery, with any delayed payment attracting mandatory interest calculated at the prevailing Central Bank of Nigeria Monetary Policy Rate plus five percent.
She argued that the chronic delay in paying contractors has pushed many businesses into financial distress, liquidation and has hampered infrastructure development, job creation and broader economic growth across the country. According to Yesufu, governments often treat contractors as unwilling bankers, using them as a source of unofficial credit while projects are completed but payments linger for months or years.
The activist said enacting such a law would discourage the practice of relying on contractors for informal financing and protect small and medium enterprises that depend on timely payments to sustain operations and pay their own staff. She urged citizens and lawmakers to consider the proposal as a step toward cleaner public contracting and stronger economic activity.