Finance Minister Says Settlement Plan Will Boost Confidence, Protect Jobs and Support Ongoing Economic Reforms…..
The Federal Government has begun fresh efforts to address long-standing debts owed to indigenous contractors, in a move aimed at restoring confidence in public institutions and easing pressure on businesses affected by delayed payments.
Speaking during a meeting with members of the All-Indigenous Contractors Association of Nigeria in Abuja, the Minister of Finance and Coordinating Minister of the Economy, Taiwo Oyedele, said the administration is committed to resolving verified claims through a process that is transparent, structured, and financially sustainable.
According to him, settling the outstanding obligations goes beyond paying contractors, stressing that it is also critical to preserving jobs, ensuring business survival, and sustaining economic stability at a time when the country is implementing major fiscal reforms.
The meeting was convened to tackle growing concerns over unpaid contracts and the prolonged dispute between the Federal Government and local service providers involved in capital projects across the country.
Discussions focused largely on unpaid capital expenditure claims, delayed contract payments, and the financial strain contractors say they have faced due to inflation, contract variations, and policy changes introduced as part of the government’s economic reform agenda.
Oyedele acknowledged the frustrations expressed by the contractors and assured them that the government is currently working with relevant agencies to verify outstanding claims and create a clear framework for settlement.
He maintained that while the administration remains focused on implementing reforms designed to stabilize the economy, efforts are being made to ensure that businesses and key stakeholders are not unfairly affected in the process.
The minister also emphasized the important role indigenous contractors play in driving infrastructure development and economic growth, adding that the government is determined to resolve the issues through continuous engagement and responsible fiscal management.
Representatives of the contractors welcomed the renewed discussions and described the meeting as a positive step toward ending years of uncertainty surrounding unpaid government obligations.
They expressed optimism that the engagement would lead to concrete outcomes and reaffirmed their readiness to continue partnering with the government in delivering critical infrastructure projects nationwide.
