The Federal Government has begun the process of resolving outstanding obligations to local contractors, as part of efforts to sustain economic reforms and strengthen public confidence.
Minister of Finance and Coordinating Minister of the Economy, Mr. Taiwo Oyedele, gave this assurance during a high-level meeting with representatives of the All-Indigenous Contractors Association of Nigeria, held in Abuja.
TheFact Daily reports that the meeting was aimed at addressing the prolonged dispute 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.
According to a statement made available on Tuesday by the Head Information and Public Relations Unit, Ministry of Finance, Efe Ovuakporie, the Minister emphasised 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 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 statement disclosed that 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.
It said the representatives of the contractors commended the Minister for initiating the dialogue and expressed optimism that the renewed engagement would lead to practical and lasting solutions.
“They also pledged their continued cooperation with the government to ensure the timely delivery of critical infrastructure projects across the country,” the statement added.
