Huge fund in procurement raising cost, waste — Osinbajo

The Vice President, Prof Yemi Osinbajo has said huge amounts of financial resources go into procurement activities and undoubtedly raise the cost of governance and in the process, encourage some form of financial waste. Osinbajo who was represented by the Minister of State for Education, Chukwuemeka Nwajiuba, stated this on Thursday while launching the Sustainable […]

The Vice President, Prof Yemi Osinbajo has said huge amounts of financial resources go into procurement activities and undoubtedly raise the cost of governance and in the process, encourage some form of financial waste.

Osinbajo who was represented by the Minister of State for Education, Chukwuemeka Nwajiuba, stated this on Thursday while launching the Sustainable Procurement Environmental and Social Standards Enhancement (SPESSE) Project organised by the National Universities Commission (NUC) in Abuja.

He said the government will achieve the goals of the National Economic Recovery and Growth Plan (ERGP) by promoting “Made-In-Nigeria” products and services, as well as prudent public procurement.

Osinbajo also said with the Sustainable Development Goals (SDG) and ERGP in view, “We must get procurement, environmental and social safeguards right in Nigeria if we are to achieve the objectives of the two growth plans and make progress in reducing the high cost of governance in the public sector, as well as be strengthened by entrenching transparency and accountability at all levels of government.”

The Minister of Finance, Budget and National Planning, Zainab Ahmed, represented by the Permanent Secretary, Aliyu  Ahmed, said the SPESSE project will address the vital missing link in project implementation in the country and also offers the opportunity to have homegrown expertise to address all of the ills that have bedeviled the procurement process in the country.

Executive Secretary of NUC, Professor Adamu Rasheed, represented by his deputy, Chris Maiyaki, said the capacity-building project is one with huge potential in growing the Nigerian economy.