New Telegraph

December 10, 2023

Federal Government recovers N49.7bn contractors, third parties debt

Federal government has recovered N49.7 billion out of N5.2 trillion worth of debt owe it by contractors and other parties. Minister of finance, budget and national planning, Mrs. Zainab Ahmed, confirmed the sum recovered on Friday at the Executive Intelligence Management Course 14 of the National Institute for Security Studies held in Abuja .

This came as Federal Executive Council ( FEC) gave nod to federal government to commence second phase of implementation of Project Lighthouse. Briefing participants of government’s activities as related to finances , she said the project light house was one of the many initiatives the government through her ministry has implemented to ensure good governance and security in the country.

She disclosed that Federal government piloted the pilot Project Lighthouse in 2017 and the project was ratified at the Federal Executive in 2019 which gave the Ministry the impetus to enter into phase two of the project. She described Project Lighthouses as a data driven artificial intelligence engine that provides the Ministry with an intelligence and profiling platform to aid in policy formulation, implementation and impact assessment. She noted that her Ministry will continue to work with relevant stakeholders

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