The federal government has approved the payment of outstanding fees to more than 1,240 contractors for various projects executed.
According to a statement on Monday by the Federal Ministry of Finance, the approval covers contractors working with various Ministries, Departments, and Agencies (MDAs).
The statement, signed by the Senior Special Assistant on Communications and Press Secretary to the Minister of Finance, Taiwo Oyedele, Mary-Ann Duke, disclosed that contractors with outstanding payments of less than ₦100 million received priority consideration.
It added that the approvals came after a thorough verification and reconciliation process to confirm outstanding obligations to the contractors.
Naija News understands that the move is part of government efforts to address legacy debts, ease cash flow challenges for businesses, and promote greater transparency in government payments.
“The Federal Ministry of Finance has approved payments to more than 1,240 contractors, providing immediate liquidity support to businesses across the country and reinforcing the Federal Government’s commitment to meeting its financial obligations.
“Contractors prioritised for payment in the most recent batch are those with verified claims in the region of N100 million or less,” the statement read in part.
The Ministry said the payments would provide relief to indigenous businesses and small and medium-sized enterprises (SMEs), enabling them to return to project sites, pay workers and settle suppliers.
It added that in the month of May alone, approximately ₦436.6 billion in transactions were processed, demonstrating a significant acceleration in payment activity aimed at unlocking liquidity and supporting economic growth.
According to the Ministry, prioritising smaller contractors is intended to spread the impact of the disbursements across sectors and regions, while helping businesses sustain operations, preserve jobs and complete ongoing projects.
The Ministry said the latest payments are also expected to boost confidence among contractors, suppliers and service providers doing business with the government.
The payment comes months after the last demonstrations by a group of indigenous contractors in Nigeria, who claimed that some of their members had begun losing houses and other property to creditor banks due to the federal government’s failure to pay for executed contracts.
The contractors, under the aegis of the All Indigenous Contractors Association of Nigeria (AICAN), vowed to continue protesting on the streets until the government pays all their outstanding fees.
The group pegged the outstanding amount at ₦4.7 trillion.
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