The Federal Government through the Ministry of Finance has approved the immediate release of funds to settle outstanding payments owed to more than 1,240 local contractors across various Ministries, Departments, and Agencies (MDAs).
The development was made known in a statement released on Monday, by Mary-Ann Duke, the Senior Special Assistant on Communication and Press Secretary to the Minister of Finance.
According to the statement, the approval follows an intensive verification and reconciliation exercise designed to validate legitimate outstanding obligations.
The development comes on the heels of protest by indigenous contractors against the government. The All Indigenous Contractors Association of Nigeria (AICAN) recently maintained that the Federal Government owes its members roughly ₦4 trillion in accumulated, certified liabilities.
These debts largely stem from capital and infrastructure projects executed during and prior to the 2024 fiscal year.
More to follow…
