FG Commits to Resolving Debt to Nigerian Contractors

The Federal Government of Nigeria, through Mr. Taiwo Oyedele, the Minister of Finance, reaffirmed its commitment to resolving the significant debts owed to local contractors. This assurance was made during a high-level meeting with representatives from the Indigenous Contractor Association of Nigeria held on Monday in Abuja.

The meeting focused on addressing the prolonged impasse regarding outstanding payments related to capital expenditures. Mr. Oyedele emphasized the need for a credible framework to resolve verified claims while balancing the government's fiscal realities.

He acknowledged the contractors' concerns about payment delays and the impact of ongoing fiscal reforms on project execution. The Minister reiterated the administration's commitment to implementing necessary reforms to stabilize the economy and ensure timely delivery of critical infrastructure projects across the country.

The meeting was attended by key officials, including Mr. Raymond Omachi, Permanent Secretary of the Federal Ministry of Finance, and Mr. Shamseldeen Ogunjimi, Director of Cash Management.