FG Releases Funds to 1,240 Contractors as Civil Rights Group Hails Oyedele’s Economic Reforms
- CRGER has applauded the Federal Government's fund disbursement to over 1,240 contractors, boosting local economic activity
- Minister Taiwo Oyedele's focus on transparency strengthens public trust while supporting indigenous enterprises
- Payments expected to create jobs, enhance household incomes, and accelerate critical infrastructure development nationwide
The Civil Rights Group for Economic Reforms (CRGER) has applauded the Federal Government and the Minister of Finance and Coordinating Minister of the Economy, Mr Taiwo Oyedele, over the approval and disbursement of funds to more than 1,240 contractors across ministries, departments and agencies.
The organisation described the move as a major intervention capable of stimulating economic activities, restoring confidence in public finance management and supporting struggling local businesses.
Source: Twitter
Boost for local businesses
In a statement signed on Tuesday, June 9, 2026, by its Executive Coordinator, David Matthew, the group said the decision to prioritise verified contractual obligations, especially claims below N100 million, demonstrates the government’s commitment to accountability, transparency and support for indigenous enterprises.
According to CRGER, many local contractors and small businesses have faced severe financial pressure due to delayed payments for completed government projects.
The release of the funds, the group noted, will provide much-needed liquidity at a time when businesses are battling rising operational costs and limited access to affordable credit.
The group added that the payments would enable contractors to return to project sites, pay suppliers, settle salary obligations and sustain jobs across several sectors of the economy.
Over N700 billion verified
CRGER disclosed that over N700 billion in verified obligations had been processed, including approximately N436.6 billion paid out within May alone.
The organisation described the intervention as one of the most significant efforts in recent years aimed at supporting local enterprises and stimulating 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 honour its commitments and support businesses that contribute to national development.”
Oyedele commended for transparency
The group also praised Oyedele for insisting on a verification and reconciliation process before the approvals were granted, saying the approach has strengthened public trust in government institutions and protected public resources from abuse.
CRGER noted that prioritising smaller contractors with verified claims below N100 million reflects sensitivity to the realities faced by indigenous businesses that depend heavily on prompt payments to survive.
“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 would have positive ripple effects on the broader economy by supporting household incomes, creating jobs and accelerating the completion of critical infrastructure projects nationwide.
Source: Twitter
CRGER urged the Federal Government to sustain the momentum by ensuring the prompt settlement of future obligations while deepening reforms aimed at improving the ease of doing business.
The organisation reaffirmed its support for policies that promote fiscal discipline, economic reforms and sustainable development, expressing optimism that the current approach would continue to deliver positive outcomes for businesses and ordinary Nigerians alike.
FG unveils approved firms to lend airtime, data
Legit.ng earlier reported that President Bola Tinubu has approved a major shake-up of Nigeria’s airtime credit and data advance market as the Federal Competition and Consumer Protection Commission (FCCPC) unveiled nine companies licensed to operate in the sector.
The move is aimed at dismantling what regulators describe as a 12-year monopoly allegedly controlled by South African technology firm Optasia, formerly known as Channel VAS.
Officials say the reform could unlock a market estimated to be more than N3 trillion annually while boosting local participation in Nigeria’s fast-growing fintech ecosystem.
Source: Legit.ng
