Nigerian govt approves debt payment to 1,240 contractors

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.

Nigerian govt approves debt payment to 1,240 contractors