The Federal Government has recovered ₦53.5 billion from debtors over the last 18 months.
This is out of ₦5.2 trillion being owed it by over 5,000 entities across 10 Ministries, Departments and Agencies (MDAs).
Minister of Finance, Hajya Zainab Ahmed made this known at the launch of the Project Lighthouse Debt Analytics and Reporting Platform.
She said the Lighthouse Project had been able to deploy technology and data to aggregate debt owed the government, a trend she added will be consolidated with the establishment of a Debt Recovery Unit.
The Debt Recovery Unit will capitalise on the effort made by the project consultants to provide the government with up-to-date records into its credit status by harmonising debt records across all MDAs within the country, give debtors access to a platform to view and offset debt in a seamless and secured manner.
The Minister urged all Federal Government Owned Enterprises and MDAs to update their list of debtors on a monthly basis against the Project Lighthouse debt recovery portfolio.
Edited by Wendy Nweke
radionigeria.gov.ng
