…Reaffirms FG’s Commitment To Sustainable Reforms
The Minister of Finance and Coordinating Minister of the Economy, Mr. Taiwo Oyedele, has held a high-level meeting with representatives of the All-Indigenous Contractors Association of Nigeria (ACAN), to address the lingering face-off between the contractors on the outstanding debt on executed capital projects in the country.
During the meeting, the minister reaffirmed 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 discussions at the meeting mainly focused on outstanding payments related to capital expenditure, and the need for clarity, accountability, and a credible framework for resolving verified claims during which the minister emphasized that the process will balance fiscal realities with the government’s responsibility to honour legitimate obligations.
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He said: “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.
While acknowledging the concerns raised by the contractors, particularly regarding delayed payments, contract variations, and the impact of ongoing fiscal reforms on project execution, Oyedele assured stakeholders that the government was working with relevant agencies to reconcile outstanding claims and establish a clear and sustainable payment structure.
He reiterated that while the administration remained committed to necessary reforms to stabilize the economy, such measures would continue to be implemented with due consideration for stakeholders to minimize disruptions.
Oyedele clarified: “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.”
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.
