Finance Ministry Clears N700bn in Contractor Obligations
The Federal Ministry of Finance has approved payments to more than 1,240 contractors across ministries, departments, and agencies following a verification and reconciliation exercise.
According to spokesperson Mary‑Ann Duke, contractors with verified claims of N100 million or less were prioritised in the latest batch, aimed at providing liquidity support to businesses and enabling them to return to project sites, pay workers, and settle suppliers.
The ministry said over N700 billionin verified obligations have been processed in recent months, including N436.6 billion in May alone, reflecting accelerated payment activity to unlock liquidity and support economic growth.
Officials added that prioritising smaller contractors is intended to spread impact across sectors and regions, preserve jobs, and boost confidence among suppliers and service providers.