By Abiodun Folarin
WorldStage– Nigeria’s Minister of Finance and Coordinating Minister of the Economy, Mr. Taiwo Oyedele, has reaffirmed the Federal Government’s commitment to resolving outstanding obligations owed to indigenous contractors through a transparent and structured process aimed at restoring confidence, sustaining economic reforms, and boosting infrastructure delivery.
The Minister gave the assurance during a high-level meeting with representatives of the All-Indigenous Contractors Association of Nigeria, held on Monday in Abuja, to address the prolonged impasse between the Federal Government and indigenous service providers.
The engagement 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. The Minister emphasized that the process would 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.
He 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 stabilize the economy, such measures would 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 Federal Government has earmarked N1.7 trillion in the 2026 Appropriation Bill to settle outstanding debts owed to contractors for capital projects executed in 2024.
Indigenous contractors had on several occasions staged protests at the Federal Ministry of Finance, accusing the Federal Government of failing to release funds earmarked in the 2024 and 2025 budgets.
At the latest protest in December 2025, the contractors demonstrated over the non-payment of contract fees exceeding N500 billion for federal projects completed in 2024.
The meeting was attended by the Permanent Secretary, Federal Ministry of Finance, Mr. Raymond Omachi; the Permanent Secretary, Special Duties, Mr. Mohammed Sanusi Danjuma; the Accountant-General of the Federation, Mr. Shamseldeen Ogunjimi; the Director of Cash Management, Federal Ministry of Finance; the Director of Funds; and other line directors from both the Finance Ministry and the Office of the Accountant-General of the Federation.
