FG Releases ₦700bn, Clears Over 1,240 Contractors for Payment

 



By Abdulahi Musa 


 The Federal Government has approved the release of more than ₦700 billion to settle verified contractual obligations owed to over 1,240 contractors across the country, in a move aimed at easing long-standing payment backlogs and boosting infrastructure delivery.

The approval forms part of ongoing efforts by the administration of President Bola Ahmed Tinubu to address outstanding liabilities and restore confidence among contractors handling government projects.

Officials said the disbursement covers verified claims across various Ministries, Departments and Agencies (MDAs), following a comprehensive review and validation process designed to ensure transparency and accountability in the payment system.

The development comes amid sustained concerns from indigenous contractors over delayed payments for completed projects. In recent months, contractor groups have staged protests in Abuja, demanding the settlement of outstanding debts owed by the Federal Government.

Government sources maintained that only duly verified obligations would be honoured, stressing that all payments are subject to established financial regulations and due process requirements. Previous disbursements to contractors have also been tied to rigorous verification procedures aimed at safeguarding public funds.

The latest release is expected to provide relief to affected contractors, support ongoing projects nationwide, and stimulate economic activities in key sectors of the economy.

The Federal Government has repeatedly pledged to clear verified contractor debts, with provisions also made in recent budgets to address outstanding liabilities accumulated over previous fiscal years.


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