The payments cover certified obligations linked to completed government projects across different sectors.

In the latest round alone, the ministry approved settlements for over 1,240 contractors. Officials say a large share of the disbursement went to small and medium-sized firms affected by long payment delays. 

“The Federal Ministry of Finance has approved payments to more than 1,240 contractors, providing immediate liquidity support to businesses across the country and reinforcing the Federal Government’s commitment to meeting its financial obligations,” the statement said. 

The ministry also noted that about N436.6 billion was processed in May, making it one of the strongest monthly releases in recent months.

Earlier in January 2026, the government released N152 billion after contractor groups carried out activities, including protests led by the Association of Indigenous Contractors of Nigeria (AICAN). 

That protest forced discussions with the Ministry of State for Finance, led by Doris Uzoka-Anite. The Senate later stepped in and set up a committee to engage the ministry and ensure a resolution to outstanding payments.

Contractor associations estimate that total verified liabilities stand at about N4 trillion, covering capital and infrastructure projects executed before and during the 2024 fiscal cycle. 

While the 2026 Appropriation Bill set aside N100 billion for contractor debts, many groups say the figure falls far short of what is owed, and they haven’t stopped pressing for comprehensive settlement.

For many small firms, the payments provide short-term relief. Contractors say the inflows help restart stalled projects in Nigeria, settle workers’ wages, and clear debt owed to suppliers. 

Some also point to reduced stress from banks and lenders after months of limited cash flow caused by unpaid government jobs.

The Finance Ministry maintains that all payments go through strict verification checks before release. Funds are paid directly through Central Bank remittances into contractors’ commercial bank accounts, a system officials say improves traceability and reduces leakages.

The latest investment, consisting of $8 million in equity and $1 million in debt, brings the company’s total Series A funding to $17 million.

The investment comes as Saudi Arabia’s construction industry undergoes rapid expansion, driven by multi-trillion-dollar infrastructure and real estate projects under the Vision 2030 plan. 

BRKZ, founded in 2023 by Ibrahim Manna, aims to tackle inefficiencies in the sector by offering a managed marketplace that simplifies procurement, reduces delays, and provides financing solutions.

Manna, who previously held a senior role at Uber-owned Careem, was inspired to start BRKZ after encountering procurement challenges when building his family home. “After Careem’s exit to Uber, I bought a family house in May 2020 and faced the inefficiencies of the construction supply chain—lack of visibility in material selection, uncertainty around the whereabouts of goods, and price volatility,” he explained. 

Recognising a gap in the market, he set out to create a platform that would simplify the procurement process for contractors and suppliers.

Since launching, BRKZ has expanded commendably. The platform now offers over 7,000 stock-keeping units (SKUs) and has grown its network to 1,100 suppliers, compared to 350 suppliers a year ago. 

Contractors using the platform can source essential materials such as cement, steel, and wood while benefiting from competitive pricing and financing options like buy-now-pay-later (BNPL).

The company has grown over the past year, with revenue quadrupling in 2024. More than 850 contractors and factories now use BRKZ, contributing to large-scale projects such as King Salman Park, Neom, and the Red Sea Project.

To meet growing demand, BRKZ has expanded its operations across over 40 cities in Saudi Arabia, increasing its request-for-quotation (RFQ) volume from $170 million in early 2024 to $350 million (SAR 1.3 billion) today. Manna revealed plans to extend the company’s reach to the Northern and Southern provinces, further strengthening its presence in the Saudi market.

Beyond procurement, BRKZ aims to offer a full-service construction space, covering financing, workforce supply, and equipment rental. The company currently generates revenue through transaction fees and financing services, but it plans to broaden its scope by working with developers and suppliers in addition to contractors.

One major area of expansion involves importing construction materials that are difficult to source locally. BRKZ intends to establish a trade corridor between China and Saudi Arabia, with plans to start importing materials from China this year, followed by India and Turkey. 

“We’re quite excited about building or enabling a corridor of trade between China and Saudi as we start importing goods we know our contractors, suppliers, and others would like to get from China. If materials are needed outside of Saudi, we’ll get them, white label these goods, and sell them to contractors, developers, and suppliers in Saudi. Our focus is to go deeper into Saudi Arabia,” Manna stated.

This change aligns with China’s growing economic ties with the Middle East and Saudi Arabia’s increasing reliance on imported materials for its massive construction projects.

The latest funding round saw participation from existing investors, including Aramco’s Waed, BECO Capital, Better Tomorrow Ventures, Class 5 Global, Fluent Ventures, Knollwood Investment Advisory, MISY Ventures, RZM Investment, and 9900 Capital. 

Dany Farha, co-founder and managing partner at BECO Capital, commended BRKZ’s impact on the industry. “The BRKZ team has executed its product and operational roadmap to drive efficiencies in this rapidly scaling sector, and we’re excited to continue supporting them in their next chapter. BRKZ’s financing product will complement their digitised procurement platform and address customer cash flow challenges,” he said.

Since its inception, BRKZ has raised $22.5 million, including pre-seed and seed rounds. The company’s valuation has risen by 46% in the past year, showing increasing market demand. 

With new capital in hand, BRKZ plans to strengthen its technology, enhance its financing solutions, and further expand its reach in Saudi Arabia’s construction sector.