Nigerian Government Pays ₦152 Billion to Local Contractors, Addresses Payment Delays
The Nigerian Federal Government has disclosed the payment of ₦152 billion to local contractors for verified completed projects, aiming to alleviate financial strains and resolve outstanding payment issues. The Ministry of Finance emphasized the need for continued engagement to address delays and ensure proper fund management.
The government plans to allocate ₦1.8 trillion in the 2026 budget to clear outstanding payments for capital projects executed until the 2024 fiscal year, particularly benefiting indigenous contractors. The Indigenous Contractors Association of Nigeria (AICAN) had raised concerns over prolonged delays in payments, impacting their financial conditions.
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