FG approves payment to 1,240 contractors, prioritises outstanding claims below N100m

The federal government has approved the payment of outstanding contractual obligations owed to more than 1,240 contractors across Ministries, Departments and Agencies (MDAs), following the completion of a nationwide verification and reconciliation exercise.

The approval is expected to provide relief to contractors who have been awaiting payment for completed projects and services, while also boosting confidence in the government’s commitment to meeting its financial obligations.

According to a statement issued on Monday by Mary-Ann Duke, the senior special assistant on communication and press secretary to the minister of finance, the approval followed a comprehensive process aimed at validating and reconciling outstanding claims submitted by contractors across various MDAs.

Duke explained that the exercise was designed to ensure transparency, accountability and accuracy in the settlement of government liabilities, adding that priority would be given to verified claims valued below N100 million.

“The approval followed a verification and reconciliation exercise to validate outstanding obligations,” the statement said.

The Ministry noted that the payment initiative forms part of ongoing efforts by the federal government to clear verified debts, support businesses affected by delayed payments and stimulate economic activities across key sectors.