Connect with us

News

FG Approves Payments To 1,240 Contractors, Targets SMEs With Verified Claims

Published

on

224 Views

The Federal Ministry of Finance said it has approved payments to more than 1,240 contractors, providing immediate liquidity support to businesses across the country and reinforcing the Federal Government’s commitment to meeting its financial obligations.

The approval, granted by the Minister of Finance and Coordinating Minister of the Economy, Taiwo Oyedele, follows a verification and reconciliation undertaken by the Ministry to ensure that only duly validated obligations qualify for payment, according to a statement on Monday by Mary-Ann Duke, Senior Special Assistant on Communication and Press Secretary to the Minister of Finance.

The payments covered contractors across various Ministries, Departments and Agencies (MDAs) and represent a significant step in addressing long-standing payment obligations, particularly those affecting indigenous businesses and small and medium-sized enterprises (SMEs).

According to the statement, contractors prioritised for payment in the most recent batch are those with verified claims in the region of ₦100 million or less.

The release of funds is expected to provide immediate relief to hundreds of businesses, enabling them to return to project sites, pay workers, settle suppliers, meet financial commitments, and support economic activity across the country.

The release of funds is expected to provide immediate relief to hundreds of businesses, enabling them to return to project sites, pay workers, settle suppliers, meet financial commitments, and support economic activity across the country.

According to the statement, 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 the month of May alone, approximately ₦436.6 billion in transactions were processed, demonstrating a significant acceleration in payment activity aimed at unlocking liquidity and supporting economic growth.

By prioritising a large number of smaller contractors rather than concentrating payments among a few large beneficiaries, the government said it is broadening the economic impact of these disbursements, supporting businesses across different sectors and regions of the country.

The latest payments are expected to strengthen confidence among contractors, suppliers, and service providers doing business with government by demonstrating the Government’s commitment to honouring duly verified obligations.

“For many beneficiaries, the release of funds represents more than a financial transaction. It provides the certainty needed to sustain operations, preserve jobs, complete ongoing projects, and contribute to economic recovery and growth”, the statement noted.

The Ministry said it remained committed to maintaining fiscal discipline while ensuring that legitimate obligations are settled promptly.

Going forward, the Ministry noted that the move will substantially reduce outstanding liabilities over time, strengthen confidence in public financial management, and support the effective delivery of public services and infrastructure.

Continue Reading
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

News

UK court jails Nigerian man for masturbating in front of a woman

British Transport Police said Odutola approached a woman on the train, looked her up and down and became aggressive when she refused to engage with him. He then exposed himself while sitting in a wheelchair and began masturbating while staring at the woman and telling her to “come over”

Published

on

By

22 Views

•A Nigerian man and registered sex offender, Babatunde Odutola

A Nigerian man and registered sex offender, Babatunde Odutola has been jailed in the UK after exposing himself and masturbating in front of a woman on a train travelling towards Manchester.

Odutola, 36, of no fixed address, was sentenced to 44 weeks in prison at Manchester Magistrates’ Court on Monday, September 14, after pleading guilty to outraging public decency and breaching a suspended sentence order.

The incident occurred around 7pm on Friday, September 11, on a train travelling through Cheshire towards Manchester Piccadilly railway station.

British Transport Police said Odutola approached a woman on the train, looked her up and down and became aggressive when she refused to engage with him. He then exposed himself while sitting in a wheelchair and began masturbating while staring at the woman and telling her to “come over”.

A fellow passenger intervened and escorted the distressed woman from the carriage.

According to police, CCTV footage showed Odutola continued masturbating as other passengers walked through the carriage.

British Transport Police officers arrested him after the train arrived at Manchester Piccadilly. He was subsequently prosecuted and jailed within 72 hours of the incident

Continue Reading

News

Digital Economy Minister Says NDPC Now Properly Functional With New HQ

” An asset recovered on behalf of the Nigerian people has now been returned to productive use for the Nigerian people. That is reform made tangible,” he said .

Published

on

By

26 Views

Abuja| NDPC new headquarters commission , Tuesday, 15 September,2026.

An EFCC-recovered property allocated to the Ministry of Communications, Innovation & Digital Economy, has been transformed to the new headquarters of the Nigeria Data Protection Commission (NDPC) in Abuja, as its headquarters.

Speaking during the commissioned ceremony of the building, the Honourable Minister incharge of the ministry, Dr. ‘Bosun Tijani, described the facility as a tangible demonstration of the visionary leadership of President Bola Ahmed Tinubu, and his commitment to building strong institutions that can support Nigeria’s growing digital economy.

The Minister emphasised that said the occasion represented more than the opening of a new office, but a reflection of the administration’s commitment to strengthening the institutions required to protect Nigerians and build trust in the country’s digital economy.

Dr. Tijani said, “Shortly after assuming office in 2023, President Tinubu signed the Nigeria Data Protection Act into law, giving the NDPC the appropriate legal foundation and authority to protect the data and privacy rights of Nigerians.

The President also directed Ministries, Departments and Agencies of the Federal Government to comply with established data protection laws and frameworks, demonstrating that government must lead by example in upholding the standards it expects from citizens and businesses.”

He added, “In the early days of the Commission, it was difficult to ask an institution to protect the data of over 200 million Nigerians and support one of Africa’s largest digital economies without the institutional resources to do so.

President Tinubu recognised this challenge and moved to solve it, approving the resources required for the NDPC to become properly operational and functional, while building towards becoming a sustainable institution in its own right.

He also directed that an EFCC-recovered property be allocated to the Commission as its headquarters.

“An asset recovered on behalf of the Nigerian people has now been returned to productive use for the Nigerian people. That is reform made tangible,” he said .

Continue Reading

News

Boko Haram Denies Ceasefire with FG, Vows Continued Attacks

Published

on

80 Views

Boko Haram has strongly denied reports of a ceasefire agreement with the Federal Government and insisted that it will continue its campaign of attacks.

In a statement released by the group, the militants dismissed claims of any truce or negotiated pause in hostilities, describing such reports as false and misleading.

The group reaffirmed its commitment to ongoing operations against government forces and other targets, vowing that its attacks will persist without interruption.

The denial comes against the backdrop of persistent insecurity in the northeast and other affected regions, where the group has maintained a long-standing insurgency.

Security sources note that the latest statement appears aimed at clarifying the group’s position and rejecting any suggestion of dialogue or de-escalation with the authorities.

Military and government officials have not issued an immediate detailed response to the claim, though security operations against the militants remain active. Authorities continue to urge vigilance as the group signals its intention to sustain violence.

Continue Reading

Trending