The Senate Committee on Public Procurement has emphasised the pressing have to make Nigeria’s procurement course of extra clear and strictly compliant with established procedures to make sure accountability and worth for cash.
It said that public procurement in Nigeria ought to turn into a mannequin of transparency and effectivity, making certain each naira spent ends in measurable, impactful tasks that positively have an effect on residents and nationwide improvement.
Committee Chairman, Olajide Ipinsagba (Ondo North), made the decision throughout a two-day retreat for committee members in Abuja on Thursday, aimed toward strengthening oversight and governance in procurement processes.
He careworn that public procurement was not only a technical or administrative operate however the essential mechanism by way of which authorities insurance policies remodeled into tangible infrastructure, companies, and improvement outcomes.
Mr Ipinsagba famous that procurement accounted for a good portion of nationwide expenditure, requiring the best requirements of integrity, effectivity, and accountability to safeguard public sources successfully.
The chairman highlighted that the 2007 Public Procurement Act, alongside the institution of the Bureau of Public Procurement (BPP) and the Senate committee, marked essential steps in institutionalising transparency rules.
Nonetheless, he acknowledged that regardless of these advances, additional reforms have been important to deal with current gaps and enhance Nigeria’s procurement framework for higher outcomes and compliance.
“Public procurement is a steady means of evolution, adaptation, and studying that calls for fixed legislative oversight, coverage advocacy, and institutional reforms to strengthen integrity and effectivity,” he added.
Mr Ipinsagba urged all stakeholders to reaffirm their dedication to creating Nigeria’s procurement system a mannequin of transparency and effectivity, not simply in Africa however globally.
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He stated by aligning procurement practices with worldwide requirements and embracing innovation, the nation may guarantee public funds are translated into higher colleges, safer roads, improved healthcare, and nationwide prosperity.
He linked these targets to President Bola Tinubu’s Renewed Hope Agenda, emphasising procurement’s position in reaching the administration’s imaginative and prescient for sustainable improvement.
CEO of Leadbold Useful resource Consulting Ltd, Kelechi Kingsley, stated the retreat aimed to reinforce the strategic management capability of the Senate Committee on Public Procurement for more practical oversight.
She defined that the retreat uncovered members to world laws, worldwide greatest practices, and sensible frameworks to strengthen institutional integrity and guarantee worth for cash in public spending.
Ms Kingsley added that bettering procurement governance was essential for advancing Nigeria’s nationwide improvement goals and fostering transparency, accountability, and effectivity in public expenditure administration.
(NAN)
