Ifeanyi Onuba, Abuja

The Federal Government said on Thursday that the N350bn to be injected into the economy in the coming weeks would be strictly monitored to ensure its effective utilisation.

The Secretary to the Government of the Federation, Mr. Babachir Lawal, stated this at the second National Conference on Public Procurement in Abuja.

The conference with theme: Sustaining the anti-corruption campaign through best procurement practices, was organised by the Bureau of Public Procurement to increase awareness among stakeholders on their roles and responsibilities in the implementation of the Public Procurement Act, 2007.

Lawal said the amount, when injected into the economy, would stimulate economic activities as many contractors would be mobilised to construction sites.

He said, Government recently committed to the injection of N350bn into the economy to enable contractors to discharge their obligations in the delivery of infrastructure. This imposes greater responsibilities on procuring entities, contractors and service providers.

Every kobo disbursed will be strictly guided by procurement rules. We are confident that the state stands to benefit from the procurement system that is transparent, efficient, competitive and accountable.

The SGF, who was represented at the event by the Permanent Secretary, Special Duties, the Presidency, Mrs. Phyllis Nwokedi, said the Federal Government placed a lot of importance on the procurement process as a vehicle that could be used to deliver infrastructure.

The Acting Director-General, BPP, Mr. Ahmed Abdu, said the conference would assist in promoting a sustainable relationship between heads of procurement regulatory bodies at the federal and state levels.

He said owing to the importance of an effective procurement system to the economy, the conference would enable stakeholders to identify and agree on further strategies needed in improving the implementation of public procurement reforms.

It is also to formulate new strategies for compliance with due process in public expenditure and cartel tendencies to circumvent the process. All are aimed at aligning the Nigerian procurement system with world best practices, Abdu added.

The representative of the African Development Bank, Mr. Andoh Mensah, said the bank had adopted a new procurement policy framework that would ensure value for money for borrowers

This, according to him, is based on a dynamic approach to procurement transactions.

Copyright PUNCH.
All rights reserved. This material, and other digital content on this website, may not be reproduced, published, broadcast, rewritten or redistributed in whole or in part without prior express written permission from PUNCH.

Contact: editor@punchng.com