FG disburses ₦152bn to contractors after verification process

The Federal Government has announced the disbursement of ₦152 billion to contractors for duly verified projects across the country.

The payment, according to a circular issued by the Federal Ministry of Finance (FMF) on Thursday, followed established verification and approval procedures aimed at safeguarding public funds and ensuring accountability in government spending.

Confirming the development, the ministry stated that all payments were processed in line with existing laws and regulations to promote transparency and protect taxpayers’ money.

“This is to confirm that the Federal Ministry of Finance has paid ₦152 billion to contractors for verified contracts. The process of payment for contracts goes through various verification stages in line with extant laws and regulations, to protect public funds and ensure accountability and transparency,” the statement read.

The ministry acknowledged the financial difficulties experienced by contractors due to delays in payment, noting that it remains committed to resolving outstanding issues through sustained dialogue and engagement.

While assuring contractors of its continued support, the FMF also appealed for cooperation and respect for due process, urging contractors to engage constructively and avoid actions that could disrupt operations.

The ministry reaffirmed its openness to constructive dialogue and reiterated its commitment to resolving disputes in a manner that upholds professionalism and institutional integrity.