Nigerian govt approves debt payment to 1,240 contractors
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The Nigerian government has finally approved the payment of debts owed to more than 1,240 contractors.
This was disclosed in a statement by the spokesperson for the Federal Ministry of Finance, Mary-Ann Duke, on Monday.
In the statement, the government announced that it would prioritise the settlement of debts below N100 million.
The Federal Government explained that the approvals came after a thorough verification and reconciliation process to confirm outstanding obligations to the contractors.
This comes after local contractors protested the non-payment of debts amounting to N4 trillion since 2024.
On several occasions, contractors barricaded the Ministry of Finance over the prolonged delay in settling the debts.
