The Federal Government has commenced the settlement of over ₦700 billion in verified outstanding debts owed to local contractors, approving payments to 1,240 indigenous businesses across the country. The Ministry of Finance disclosed that more than ₦436 billion was disbursed in May 2026 alone as part of efforts to reduce long-standing liabilities and strengthen infrastructure development. Officials said contractors with verified claims of ₦100 million and below were given priority in the latest payment cycle to ease financial pressure on small and medium-scale enterprises executing government projects. READ ALSO: Federal Government arraigns Mike...