Contractors Payment Compliance Act
There is a need for a strong, enforceable law to be enacted that compels every tier of government (Federal, State, and Local) to pay contractors all due invoices within 30 days, with mandatory interest (at least at the prevailing Central Bank of Nigeria Monetary Policy Rate plus 5%) on any delayed payment.
Contractors will deliver on their work only for governments to delay payments for months or years, pushing many businesses into distress and liquidation. A Contractors Payment Compliance Act will make it mandatory for government to pay within 30 days, with automatic interest on delays. No more using contractors as unwilling bankers!
The persistent delay in government payment to contractors constitutes a major obstacle to economic growth, infrastructure delivery, and job creation in Nigeria.
@kufzcares16@JohnFanimokun Not removing today and waiting till probably 2031 will hurt 20x more than it is hurting now. In all one leader has to take the fall for it.
If you come across this on your timeline, kindly help with a repost. I still need brand collaborations. Suggestions, referrals, and introductions would also be greatly appreciated.
@PeterObi Your supposed phone conversation had you saying it was a "religious war", another clip had you saying "church, take back your country". You repeatedly echo problems of Nigeria which we already know but has never proferred just "one" solution; how do you expect us to vote for you?
@sowore 80% of public Primary and Secondary Schools fall under the purview of LG and SGs. And allocations are allotted for these schools every year. I think the protest for safer schools rest mainly on these tier of Government. Let us first ask that all schools be fenced.
@FinPlanKaluAja1 I don't really believe o, Osun State over the years has been having considerable level of power supply but no marked improvement in GDP or Standard of living.
The NCAA recently sanctioned a domestic airline for extremely delayed refunds. The airline paid the sanction fee, but is still not complying with refund timelines per Part 19 of the NCAA regulations.
We are presently writing a LOI to the airline and may be forced to proceed to newer, stiffer sanctions (subject to the approval of the DGCA) if this scenario does not change quickly.
It is not a great business model to keep your customers in a perpetual state of dissatisfaction, anxiety, and despair.
The NCAA will protect the rights of all stakeholders without prejudice.