‎Finance Ministry Clears ₦100m-and-Below Contractor Claims in Liquidity Push

The Federal Ministry of Finance has approved payments to more than 1,240 contractors to provide immediate liquidity support to businesses and reinforce the Federal Government’s commitment to meeting its financial obligations.
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‎The Minister of Finance and Coordinating Minister of the Economy, Mr. Taiwo Oyedele, granted the approval following verification and reconciliation to ensure only duly validated obligations qualified for payment.
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‎According to a statement by the Head of Information and Public Relations Unit, Efe Ovuakporie, the payments cover contractors across various Ministries, Departments and Agencies (MDAs) and target long-standing obligations, particularly those affecting indigenous businesses and small and medium-sized enterprises (SMEs).
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‎The statement said contractors prioritised in the latest batch had verified claims of ₦100 million or less. The Ministry said the release of funds would enable hundreds of businesses to return to project sites, pay workers, settle suppliers, meet financial commitments, and support economic activity nationwide.
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‎Over the past few months, the Federal Government has processed payments exceeding ₦700 billion across various categories of verified obligations owed to local contractors. Within May alone, approximately ₦436.6 billion in transactions were processed, representing an acceleration in payment activity aimed at unlocking liquidity and supporting growth.
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‎By prioritising a large number of smaller contractors instead of concentrating payments among a few large beneficiaries, the Government said it was broadening the economic impact of the disbursements across sectors and regions.
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‎The Ministry said the payments were expected to strengthen confidence among contractors, suppliers, and service providers by demonstrating its commitment to honouring verified obligations.
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‎It added that for many beneficiaries, the funds provided certainty to sustain operations, preserve jobs, complete ongoing projects, and contribute to economic recovery.
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‎The Ministry reiterated its commitment to maintaining fiscal discipline while ensuring legitimate obligations were settled in a timely manner to reduce outstanding liabilities and support the delivery of public services and infrastructure.