The Civil Rights Group for Economic Reforms (CRGER) has expressed strong commendation for the Federal Government and the Minister of Finance and Coordinating Minister of the Economy, Taiwo Oyedele, following the approval and disbursement of verified payments to more than 1,240 contractors across various ministries, departments, and agencies. The organization described this initiative as a crucial intervention capable of revitalizing economic activity and restoring confidence in public financial management.
In a statement released on Tuesday and signed by its Executive Coordinator, David Matthew, the group highlighted that the decision to prioritize verified contractual obligations, especially claims valued at N100 million and below, reflects the administration's dedication to accountability, transparency, and support for indigenous businesses. According to CRGER, settling outstanding debts owed to legitimate contractors sends a powerful message that the government is committed to honoring its agreements while ensuring that businesses that have delivered public projects are not left struggling due to delayed payments.
The group noted that the fund release would inject much-needed liquidity into the economy at a time when many local enterprises are facing rising operational costs, inflationary pressures, and limited access to affordable credit. The statement read: “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. 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 N100 million and below, many of whom rely on prompt payments to sustain operations and retain workers.”
CRGER observed that the processing of over N700 billion in verified obligations, including approximately N436.6 billion reportedly disbursed in May alone, represents one of the most significant interventions aimed at supporting local enterprises and stimulating economic activities. The group added that delayed payments had placed considerable strain on many indigenous contractors and small and medium-sized enterprises, affecting their ability to execute projects, pay workers, and meet obligations to suppliers. “The release of these funds will enable businesses to return to project sites, settle suppliers, meet payroll obligations and contribute more effectively to economic growth,” the group stated.
The organization also praised Oyedele for embedding due process and accountability at the core of public financial administration, noting that the insistence on verification before payment has strengthened confidence in government institutions. “We must particularly commend Mr Taiwo Oyedele for his emphasis on accountability, transparency and fiscal discipline,” the statement added. “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 verification exercise undertaken before the 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.”
CRGER further argued that the intervention would generate positive ripple effects across several sectors of the economy by preserving jobs, supporting household incomes, and accelerating the completion of critical infrastructure projects. It urged the Federal Government to sustain the momentum by ensuring that future contractual obligations are settled promptly, 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 receive payment for services rendered, projects move forward and economic activities expand,” the statement said. “This intervention will undoubtedly contribute to growth, stability and renewed confidence in the economy.”
CRGER reaffirmed its support for policies that promote fiscal responsibility, economic reforms, and sustainable development, expressing optimism that the government's current approach to public finance management would continue to deliver positive outcomes for businesses and citizens alike.
