The Minister of Finance and Coordinating Minister of the Economy, Mr. Taiwo Oyedele, has again affirmed the Federal Government’s commitment to resolving outstanding obligations to local contractors in a fair, transparent, and structured manner, as part of broader efforts to sustain economic reforms and strengthen public confidence.
The assurance was contained in a statement issued by Efe Ovuakporie, Head Information and Public Relations Unit at the ministry.
She stated that the Minister convened a high-level meeting with representatives of the All-Indigenous Contractors Association of Nigeria in his office aimed at addressing the prolonged impasse between the Federal Government and indigenous service providers.
While assuring them, the engagement also focused on outstanding payments related to capital expenditure, with discussions centred on the need for clarity, accountability, and a credible framework for resolving verified claims. Minister Oyedele emphasised that the process will balance fiscal realities with the government’s responsibility to honour legitimate obligations. “Resolving these obligations is important not just for contractors, but for confidence in government, job creation, business continuity, and overall economic stability,” the Minister stated.
He acknowledged the concerns raised by the contractors, particularly regarding delayed payments, contract variations, and the impact of ongoing fiscal reforms on project execution and assured stakeholders that the government is working closely with relevant institutions to reconcile outstanding claims and establish a clear and sustainable payment structure.
Mr. Oyedele reiterated that while the administration remains committed to bold and necessary reforms to stabilise the economy, such measures will continue to be implemented with due consideration for stakeholders to minimize disruptions. “The government recognizes the critical role local contractors play in infrastructure development and economic growth. We are determined to resolve all outstanding issues through structured engagement within the framework of fiscal responsibility,” he added.
The contractors who commended the Minister for initiating the dialogue and expressed optimism that the renewed engagement would lead to practical and lasting solutions also pledged their continued cooperation with the government to ensure the timely delivery of critical infrastructure projects across the country.
The meeting had in attendance the Permanent Secretary, Federal Ministry of Finance, Mr. Raymond Omachi; Permanent Secretary, Special Duties, Mr. Mohammed Sanusi Danjuma; the Accountant-General of the Federation, Mr. Shamseldeen Ogunjimi; the Director, Cash Management, Federal Ministry of Finance; and the Director, Funds, and other line Directors both from the Finance Ministry and the Office of the Accountant-General of the Federation.
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