The Federal Government don approve payment for more than 1,240 contractors wey dey work with different Ministries, Departments and Agencies (MDAs) across the country.
According to a statement released on Monday by Mary-Ann Duke, Senior Special Assistant on Communication and Press Secretary to the Minister of Finance, the approval come after government complete thorough verification and reconciliation exercise to confirm genuine outstanding debts owed to contractors.
The statement explain say contractors with verified claims below ₦100 million go get priority attention under the payment arrangement.
The Federal Ministry of Finance say the move na part of efforts to settle long-standing obligations, improve cash flow for businesses and strengthen confidence in government contracts.
Officials explain say the verification process help government identify authentic claims and ensure transparency in the disbursement of public funds.
The ministry also note say clearing the outstanding debts go help many contractors continue their operations, support job creation and contribute to economic growth.
Government sources add say the initiative reflects the administration’s commitment to financial accountability and prompt settlement of verified obligations owed to private sector partners.
The payment exercise is expected to bring relief to hundreds of businesses and contractors wey don wait for government payments over completed projects and services rendered to various MDAs.
