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BUSINESS & ECONOMYNEWSSOCIETY

FG Approves N350bn Payment To Contractors

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Federal Government of Nigeria has approved the sum of N350 billion payment to contractors handling various infrastructure development projects in the country, most of whom had abandoned the projects for almost three years due to lack of fund.

Secretary to the Government of the Federation (SGF), Mr. Babachir Lawal who disclosed the approved sum at the opening of the second National Conference on Public Procurement (NACOPP) said, the payment was a relieve to the contractor would were expected to mobilise to site immediately.

Mr. Lawal opined that the payment would encourage the contractors to discharge their obligations to the development of infrastructure, but warned that every kobo expended must be guided by the Procurement Act.

He pointed out that the present administration had promised ‘change’ to Nigerians and would deliver it, he also gave an assurance that the dividends of democracy would soon be seen by Nigerians.

“I am convinced that when the dividends of democracy flourish, all will benefit. We are confident that the state stands to benefit from the procurement system that is transparent, efficient, competitive and accountable”, he said.

Meanwhile, the acting Director General of Bureau of Public Procurement (BPP), Mr. Ahmed Abdu, revealed that 25 states had set up procurement agencies through the inspiration of BPP.

He confirmed support the agency received from World Bank, African Development Bank (AfDB) and other foreign organisations in the discharge of its duties.

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  1. RT @BizWatchNigeria: FG Approves N350bn Payment To Contractors – https://t.co/z9VqJE873d https://t.co/NSnLiQ6DhC

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