The federal government has announced the clearance of over N700 billion in verified debts owed to local contractors. This initiative prioritizes those contractors with claims of N100 million or less, ensuring that smaller entities receive timely payments. The announcement was made by Mary-Ann Duke, the Senior Special Assistant on Communication and Press Secretary to the Minister of Finance, in a statement released on Monday. This move is expected to enhance the financial stability of local contractors and stimulate economic activity.
Related Articles
Don't miss out on breaking stories and in-depth articles.