IT was a big relief local contractors who had abandoned their sites over three years ago due to lack of funds, as the Federal Government, yesterday, said it has injected N350 billion into the economy to enable them go back to work.

Declaring open the second National Conference on Public Procurement (NACOPP) in Abuja, the Secretary to the Government of the Federation (SGF), Mr. Babachir David Lawal, said the injection would ginger the contractors to discharge their obligations to the development of infrastructure, warning, however, that every kobo spent must be guided by the Procurement Act.

“Government recently injected N350 billion into the economy to enable contractors discharge their obligation for the development of infrastructure. This poses greater responsibility on stakeholders that every kobo disbursed is guided by the Procurement Act,” the SGF, who was represented by Mrs. Philis Nwokedi said.

According to the SGF, the current administration has promised change to Nigerians and will deliver it, assuring 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.

In his remarks, the Acting Director General of Bureau of Public Procurement (BPP), Mr. Ahmed Abdu, disclosed that 25 states have set up procurement agencies through the inspiration of BPP. He acknowledged the support from World Bank, African Development Bank (AfDB) and other foreign organisations.

However, the Acting Director of AfDB, Dr. Andoh Mensah, said that globally, procurement accounts for a substantial portion of national budget, approximately, 15 to 22 per cent of Gross Domestic Products (GDP) and 29 to 40 per cent of government’s expenditure

http://sunnewsonline.com/fg-injects-n350bn-in-economy-to-pay-contractors/

Another APC April Fool message for their zombies. Where is the money? Where did they get it from? The last time I checked, Bubu hasn't signed the budget into law and the duration of 2015 budget has elapsed. So who authorised the release of such amount of money? From which account? These people should be lying with care.

Ehya

nnachukz:
Another APC April Fool message for their zombies. Where is the money? Where did they get it from? The last time I checked, Bubu hasn't signed the budget into law and the duration of 2015 budget has elapsed. [b]So who authorised the release of such amount of money?[b] From which account? These people should be lying with care.

I was surprised myself yesterday 31st of march, when I waka pass Area 1 round about towards Gudu district Abuja & saw earth moving vehicles & road construction work going on there...

Thought about taking a pic but decided not to as I felt it will be a bit insensitive, considering the somewhat justified general apathy of the citizens in the face of the current challenges the nation is presently facing...

However anyone around FCT can double check my story's veracity & call me out if I'm blowing hot air... thx.

modath:



I was surprised myself yesterday 31st of march, when I waka pass Area 1 round about towards Gudu district Abuja & saw earth moving vehicles & road construction work going on there...

Thought about taking a pic but decided not to as I felt it will be a bit insensitive considering the somewhat justified general apathy of the citizens in the face of the current challenges the nation is presently facing...

However anyone around FCT can double check my story's veracity & call me out if I'm blowing hot air... thx.

True talk saw them this afternoon. Gradually Gradually We Will get there