The Federal Government has banned new public contracts without confirmed funding available. This directive aims to improve how projects are delivered across Nigeria.
Dr Adebowale Adedokun, who heads the Bureau of Public Procurement, made the announcement Thursday in Abuja. He spoke at the inaugural hosting of "The Procurement Evolution" event.
President Bola Tinubu approved the measure to address unpaid contractors, Adedokun noted. Timely payment is essential for an effective procurement system, he added.
"The President has given a directive on when funds should be raised to address contractor concerns," Adedokun told the gathering. According to him, "no award will be further issued without resources or funding available."
Payment is now tied directly to procurement processes under the new policy. This ensures better government spending practices going forward.
Government is rolling out 23 procurement reforms aimed at boosting transparency and value for money. Committees to drive these changes will soon be inaugurated by the Secretary to the Government of the Federation.
Nigerians should benefit directly through improved infrastructure and better services, Adedokun said. He mentioned good roads, hospitals, schools and living wages for workers.
Sen. George Akume, the SGF, stressed procurement's importance to the Renewed Hope Agenda.
He was represented at the event by Dr Abubakar Kana.
Ongoing reforms include changes to the Public Procurement Act 2007. They also cover the Nigeria First Policy and the Nigeria e-Marketplace initiative.
Community-based procurement and affirmative procurement programmes are part of the package. These moves aim to strengthen local industries and promote economic inclusion.
The SGF's office said reforms would enhance transparency and simplify procurement processes. Technology will be fully leveraged to eliminate inefficiencies, officials noted.
"Our collective responsibility is very clear," Dr Kana stated at the event. All stakeholders must work together to achieve shared national goals.
Procurement must be simplified without compromising accountability, he emphasized. Service delivery and national development depend on this transformation.
Federal Government remains committed to supporting the Bureau of Public Procurement. The reforms should serve as a catalyst for economic growth.
Infrastructure development and improved quality of life for citizens are the ultimate goals. The event highlighted current and future procurement initiatives.
