FG Moves to Clear Debts Owed to Indigenous Contractors
By Patience Ikpeme
The Federal Government has pledged to settle outstanding debts owed to local contractors through a transparent and structured framework, signaling a fresh push to restore public confidence and support domestic business continuity.
Mr. Taiwo Oyedele, the Minister of Finance and Coordinating Minister of the Economy, gave this assurance during a high-level consultative meeting with representatives of the All-Indigenous Contractors Association of Nigeria on Monday.
The session, held in the nation’s capital, sought to break a long-standing impasse regarding unpaid capital expenditure claims.
A statement issued by Mrs. Efe Ovuakporie, Head of the Information and Public Relations Unit at the Ministry of Finance, noted that the discussions focused on creating a credible system for resolving verified claims while balancing the country’s current fiscal realities with its legal obligations.
“Resolving these obligations is important not just for contractors, but for confidence in government, job creation, business continuity, and overall economic stability,” Minister Oyedele said during the engagement.
The Minister noted the challenges voiced by the service providers, specifically those involving delayed payments and the effects of contract variations. He noted that the government is actively collaborating with various state institutions to reconcile these figures and build a sustainable payment structure.
Addressing the broader economic landscape, the Minister explained that while the administration pursues bold reforms to stabilize the national economy, these shifts will be managed with a focus on minimizing disruptions to key stakeholders.
“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,” Mr. Oyedele stated.
The meeting drew a significant delegation of top government officials, including Mr. Raymond Omachi, Permanent Secretary of the Federal Ministry of Finance; Mr. Mohammed Sanusi Danjuma, Permanent Secretary for Special Duties; and Mr. Shamseldeen Ogunjimi, the Accountant-General of the Federation. Directors from the Cash Management and Funds departments also participated in the technical review of the claims.
Members of the All-Indigenous Contractors Association of Nigeria praised the Ministry for initiating the dialogue.
They expressed hope that the meeting marks a shift toward practical solutions and pledged to work with the government to ensure the timely completion of critical infrastructure projects nationwide.
