The Federal Government has confirmed the payment of N152billion to contractors for verified contracts executed in 2024.
Confirming the development on Thursday, the Ministry of Finance noted that the process of payment for contracts goes through various verification processes in line with extant laws and regulations, to protect taxpayers’ money and ensure accountability and transparency.
TheFact Daily reports that President Bola Tinubu had in December 2025, directed the payment of N1.5 trillion owed to local contractors, who have been barricading the Ministry of Finance for some months now.
The President also raised a multi-ministerial panel to provide a permanent funding solution for contracts in the country, during a Federal Executive Council (FEC) meeting in Abuja.
Contractors under the aegis of the All Indigenous Contractors Association of Nigeria (AICAN) are demanding for the payment of over N760billion owed for completed projects in 2024.
The AICAN members who set their canopy directly at the entrance of the Ministry of Finance headquarters, Abuja, said all the pledges made by the government during previous negotiations were not honoured.
The General Secretary of the Association, Babatunde Oyeniyi,told TheFact Daily during one of the association’s protests at the Ministry of Finance that the contractors had approached the Minister of Finance and the Coordinating Minister of the Economy, Mr Wale Edun, in September last year to Enquire what was delaying the payment.
He said after protracted negotiations, the Ministry signed anagreement with the association to pay the sum of N760 billion, but was nothonoured, forcing the members to embark on protest to press home their demands. Meanwhile, the Ministry said while it acknowledges the financial strain the delayin payment has caused contractors, it also pleads for continuous dialogue andengagement for effective resolution of all conflicts.
The Ministry of Finance assured all contractorsof its continuous support and openness to constructive dialogue and urged allcontractors to respect the process and the personnel of the FMF, who have hadto endure different levels of intimidation and harassment.
Noting that it would continue to process allpayment requests in line with due process in a timely and consistent manner.
