FG approves payments to 1,240 contractors, processes over N700bn claims

The Federal Government of Nigeria has approved payments to over 1,240 local contractors as part of settling verified outstanding obligations. According to the Ministry of Finance, over N700 billion in claims have been processed in recent months, with about N436.6 billion processed in May alone. Contractors with verified claims of up to N100 million were prioritized to provide liquidity support to businesses and boost economic activity across the country.