The Federal Government has announced that it has processed over N700 billion in payments to local contractors as part of efforts to clear verified obligations and stimulate economic activity. According to a statement issued by the Ministry of Finance, more than 1,240 contractors have been prioritised for payment, particularly those with verified claims of N100 million or less.

The ministry stated that approximately N436.6 billion in transactions were processed in May alone, describing it as a significant increase in payment activity aimed at improving liquidity, supporting businesses, and enabling contractors to return to project sites, pay workers, settle suppliers, and meet other financial obligations. The statement was signed by Efe Ovuakporie, Head of Information and Public Relations at the ministry.

However, the government’s claims have been challenged by protesting contractors, some of whom insist they have not received any payments. The disagreement comes amid renewed demonstrations by contractors seeking the settlement of outstanding debts, raising concerns over the implementation and distribution of the reported disbursements.