Prominent socio-political activist Aisha Yesufu has called for the enactment of a new law that would compel all tiers of government in Nigeria to pay contractors within 30 days of completing projects or delivering services.
In a post shared on her social media page, Yesufu argued that delayed payments have crippled businesses, slowed infrastructure development, and undermined job creation.
She proposed that any payment outstanding beyond 30 days should attract mandatory interest, calculated at the prevailing Central Bank of Nigeria Monetary Policy Rate plus five percent.
“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. No more using contractors as unwilling bankers,” she stated.
Yesufu lamented that many contractors deliver projects only to face months or even years of waiting for payment, pushing several into financial distress or liquidation.
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