Nigeria’s Federal Ministry of Finance has approved the payment of outstanding obligations to more than 1,240 contractors engaged by various Ministries, Departments and Agencies (MDAs), in a move aimed at easing financial pressures on businesses and restoring confidence in public sector payments.
In a statement released on Monday, Mary-Ann Duke, Senior Special Assistant on Communication and Press Secretary to the Minister of Finance, said the approvals followed a comprehensive verification and reconciliation exercise to validate all outstanding claims.
According to the ministry, priority has been given to verified payment claims valued below ₦100 million, reflecting the government’s commitment to settling smaller obligations first while addressing long-standing debts owed to contractors.
Officials say the initiative is expected to improve cash flow for affected businesses, enhance transparency in government expenditure, and reinforce accountability in the settlement of public sector contracts.
