The Ministry of Finance says it has approved the payment of more than 1,240 contractors across ministries, departments and agencies, MDAs, following a verification and reconciliation exercise on outstanding obligations.
In a statement , Senior Special Assistant on Communication and Press Secretary to the Minister of Finance, Mary-Ann Duke, said the exercise was carried out to confirm valid claims and streamline payments.
According to her, contractors with verified claims of 100 million naira and below were given priority in the latest disbursement.
The ministry added that the payments are aimed at easing financial pressure on indigenous firms, particularly small and medium-scale enterprises, SMEs, enabling them to return to project sites, settle workers’ wages, and pay suppliers.
The ministry said prioritising smaller contractors was intended to widen the reach of payments across sectors and regions while sustaining jobs and ensuring the completion of ongoing.