The Federal Government has approved payments to more than 1,240 local contractors across the country.
According to the Ministry of Finance, the payments followed a verification and reconciliation process to ensure that only valid and confirmed obligations were settled across Ministries, Departments and Agencies (MDAs).
The ministry says the funds are expected to provide relief to businesses, particularly small and medium-sized enterprises (SMEs), by helping them resume project work, pay workers, and meet other financial commitments.
It also noted that over ₦700 billion in verified obligations has been processed in recent months as part of efforts to reduce outstanding liabilities and support economic activity.
The government says it remains committed to fiscal discipline while ensuring timely settlement of verified debts owed to contractors.
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