The Civil Rights Group for Economic Reforms (CRGER) has commended the Federal Government and Minister of Finance and Coordinating Minister of the Economy, Mr. Taiwo Oyedele, for approving and disbursing funds to over 1,240 contractors across various ministries, departments, and agencies.
CRGER Hails Economic Intervention
In a statement issued on Tuesday, June 9, 2026, by its Executive Coordinator, David Matthew, the group described the move as a crucial intervention capable of stimulating economic activities, restoring confidence in public finance management, and supporting struggling local businesses. The decision to prioritize verified contractual obligations, particularly claims below N100 million, underscores the government's commitment to accountability, transparency, and support for indigenous enterprises.
CRGER noted that many local contractors and small businesses have faced severe financial pressure due to delayed payments for completed government projects. The release of funds will provide much-needed liquidity as businesses grapple with rising operational costs and limited access to affordable credit. The payments are expected to enable contractors to return to project sites, pay suppliers, meet salary obligations, and sustain jobs across various sectors.
Over N700 Billion Verified
CRGER disclosed that more than N700 billion in verified obligations have been processed, including approximately N436.6 billion paid out in May alone. The organization described this as one of the most significant efforts in recent years to support local enterprises and stimulate economic growth.
“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 read.
“This decision is not only an act of financial responsibility but also a strong statement that the government is prepared to honor its commitments and support businesses that contribute to national development.”
Oyedele Praised for Transparency
The group also praised Oyedele for insisting on a verification and reconciliation process before approvals, which has strengthened public trust in government institutions and protected public resources from abuse. CRGER highlighted that prioritizing smaller contractors with verified claims below N100 million reflects sensitivity to the realities faced by indigenous businesses that rely heavily on prompt payments for survival.
“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 transparent and disciplined manner,” the statement added. “The verification exercise reinforces public confidence and ensures that only legitimate claims are funded.”
Positive Ripple Effects Expected
The group further stated that the payments will have positive ripple effects on the broader economy by supporting household incomes, creating jobs, and accelerating the completion of critical infrastructure projects nationwide. CRGER urged the Federal Government to sustain this momentum by ensuring prompt settlement of future obligations while deepening reforms to improve the ease of doing business.
The organization reaffirmed its support for policies that promote fiscal discipline, economic reforms, and sustainable development, expressing optimism that the current approach will continue to deliver positive outcomes for businesses and ordinary Nigerians alike.
