ABUJA: The Civil Rights Group for Economic Reforms (CRGER) has commended the Federal Government and the Minister of Finance and Coordinating Minister of the Economy, Taiwo Oyedele, for approving and releasing funds to over 1,240 contractors across ministries, departments and agencies (MDAs).
The group described the move as a major boost to the economy and evidence of the government’s commitment to responsible fiscal management.
In a statement issued on Tuesday by its Executive Coordinator, David Matthew, CRGER said the decision to prioritize verified contractual obligations—especially claims below ₦100 million—demonstrates a commitment to accountability, transparency and support for indigenous businesses.
According to the group, settling the debts after a thorough verification and reconciliation process sends a strong signal that the government is determined to restore confidence in public financial management and ensure that genuine contractors are not abandoned after completing projects.
CRGER noted that the release of the funds would inject much-needed liquidity into the economy at a time when many local businesses are struggling with rising operational costs and limited access to affordable financing.
“We commend the Federal Government and particularly the Minister of Finance and Coordinating Minister of the Economy, Mr. Taiwo Oyedele, for demonstrating a clear commitment to responsible fiscal management and the timely settlement of verified contractual obligations owed to local contractors across the country,” the statement said.
“This decision is not only an act of financial responsibility but also a strong statement that government is prepared to honour its commitments and support businesses that contribute to national development.
“We are particularly encouraged by the deliberate prioritisation of smaller contractors and businesses with verified claims of ₦100 million and below, many of whom rely on prompt payments to sustain operations and retain workers.”
The group stated that the processing of more than ₦700 billion in verified obligations, including approximately ₦436.6 billion paid out in May alone, represents one of the largest interventions aimed at supporting local enterprises and stimulating economic activity.
It observed that many indigenous contractors and small and medium-scale enterprises (SMEs) had faced severe financial strain due to delayed payments. The settlement, it added, would enable businesses to return to project sites, pay suppliers, meet payroll obligations and contribute more effectively to economic growth.
CRGER also praised Oyedele for placing due process and accountability at the centre of government financial operations.
“At a time when many Nigerians are demanding greater efficiency in public spending, the minister has demonstrated that government obligations can be settled in a manner that is both transparent and consistent with established procedures,” the group said.
“The verification exercise undertaken before approvals were granted reinforces public confidence and ensures that only legitimate claims are funded. This is the kind of institutional discipline that strengthens governance and protects public resources.”
According to the group, the payments are expected to create positive ripple effects across various sectors by preserving jobs, supporting household incomes and accelerating the completion of critical infrastructure projects.
CRGER urged the Federal Government to sustain the momentum by ensuring the timely settlement of future obligations while continuing reforms aimed at improving the ease of doing business and strengthening the productive capacity of local enterprises.
“The release of these funds is ultimately good news for ordinary Nigerians because when contractors are paid, workers receive their salaries, suppliers are paid for services rendered, projects move forward and economic activities expand.
“This intervention will undoubtedly contribute to growth, stability and renewed confidence in the economy,” the statement added
