Public procurement accounts for 25.3% of GDP in developing, emerging market economies — FG
The Federal Government says research revealed that public procurement accounted for an average of 25-3 percent of Gross Domestic Product (GDP ) in developing and emerging market economies.
The Permanent Secretary, Ministry of Agriculture and Food Security, Dr Ernest Umakhihe stated this on Thursday in Abuja, at a One- Day Workshop on Public Procurement organised by the ministry.
The theme of the workshop is “Enhancing the Values of Public Procurement in the Agricultural Sector.”
Umakhihe was represented by Mrs Oluwatoyin Alabi, Director, Human Resources Management, Ministry of Agriculture.
Umakhihe also said that the African Development Bank in (2009), said public procurement accounted for 70 percent of Government budgets and expenditures across Africa.
He said that the workshop aimed to keep everyone abreast of the latest developments in the procurement process, towards a seamless and efficient delivery of goals and objectives of the agricultural sector.
The director said it was instructive that the workshop took place when all Ministries, Departments and Agencies (MDAs) of the Federal Government were defending their 2024 budgets.
“While presenting the 2024 budget tagged ‘Budget of Renewed Hope’ to the National Assembly, President Tinubu made it clear that its top priorities are Nigeria’s national defence & internal security.
“Others are local job creation, macro-economic stability, investment, environmental optimisation, human capital development, poverty reduction and social security.
“You will all agree with me that virtually all the priorities mentioned above are directly linked to the agricultural sector. No wonder then, that the sector is the mainstay of the Nigeria economy.
“It is imperative that we are all kept abreast of the latest developments in the procurement process towards a seamless and efficient delivery of the goals and objectives of the sector,” he said.
He said that enhancing and improving the public sector procurement systems required good governance and good procurement practices.
Umakhihe said there is need to be conscious of all the elements of the Finance Act, 2020 as it affects Public Procurement as well as the Revised Service – Approval Thresholds.
“In order for the country to achieve its food security goal in line with the present administration’s 8- Point Agenda, we must all be more proactive more than ever,” he said.
Earlier, the Director of Procurement, Ministry of Agriculture and Food Security , Mr Sunday Adebumi, said that there was need for everyone to keep abreast of the latest development in public procurement.
He said that the objectives of establishing the Bureau of Public Procurement, was to harmonise existing government policies and practices on public procurement and ensure probity, accountability and transparency among others.
