5,000 companies, individuals owe FG N5.2tn – Finance Minister

Nigeria’s Finance Minister, Zainab Ahmed, disclosed that 5,000 companies and individuals are indebted to the Federal Government to the tune of N5.2 trillion.

She disclosed this during a two-day sensitization workshop in Minna, Niger State, on Thursday.

The Minister, represented by the Director of Special Projects at the ministry, Victor Omata, stated that the debts cut across 19 ministries, departments and agencies.

“The ministry, through the consolidation efforts of the Debt Analytics and Reporting Application, has been able to aggregate monumental debts of approximately N5.2 trillion. These debts came to the spotlight from data aggregated from over 5,000+ debtors across 10 Ministries, Departments, and Agencies (MDAs).”

She added that efforts aimed at recovering the aggregated debts are still ongoing.

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