A special task force to be raised by the Federal Government is to investigate how 28 Federal Ministries, their departments and agencies under the administration of President Goodluck Jonathan incurred a whooping N4 trillion contractual debt.
This debt, which is nearly the country’s budget for one year, was inherited from the previous administration and reflected in the hand-over note given to the Transition Committee raised by President Muhammadu Buhari.
The committee is to investigate who issued the jobs, if due
process was followed and if the assigned jobs were completed by the contractors.
process was followed and if the assigned jobs were completed by the contractors.
These and more are the duties which a special task force to be raised by the Federal Government, is to undertake before the debt could be classified as Federal Government liability and settled by the new administration.
The authenticity of the debt profile is in question because specific dates of contract award were not provided in the hand-over note.
A breakdown of the huge debts shows that the Ministry of Education top the list with N1.2 trillion followed by Ministry of Finance with a debt of N467.7 billion.
Other debtor ministries are: Power, N370 billion, Works, N296 billion, Transport, N289 billion and FCT, N194 billion.
Others are: Land and Housing, N151 billion, Aviation, N138 billion, Water Resources, N111 billion, National Sports Commission, N104 billion, Environment, N51 billion, Police Affairs, N36 billion and Health, N36 billion.
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