ENUGU, Nigeria (VOICE OF NAIJA)- The Executive Secretary of the Tertiary Education Trust Fund (TETFund), Arch Sonny Echono on Wednesday, charged the TETFund beneficiary institutions to be accountable in public procurement processes while accessing fund for various institutions.
The TETFund Boss while noting that about 80 to 90 per cent of its activities revolves around procurement, and advised the public institutions to be properly acquainted with the Public Procurement Act of 2007.
He gave the charge at the capacity Building Workshop organized for the TETFUND Beneficiary Institutions in conjunction with the Bureau for Public Procurement, held in Enugu State on Wednesday.
The workshop is targeted at building the capacity of beneficiary public institutions in Nigeria on public Procurement Processes, with a view to promoting accountability, transparency and efficiency for effective and timely delivery of TETFUND projects.
In line with its guidelines for accessing the funds, the ES stressed that beneficiaries are required to conceive, develop and put together all necessary documentations and processes for the award.
Echono who was represented by the Director Strategic Planning and Development of TETFund, Mr Irene Erivwo, noted that the workshop is to familiarize the heads of the beneficiary public tertiary institutions with the operations, standards, and benchmark, that will enable them attain transparency, competitiveness, professionalism and cost effectiveness while procuring their TETFund interventions.
He said: “By the mandate of the TETFUND and in line with its guidelines for accessing the funds, beneficiaries are required to conceive, develop and put together all necessary documentation and processes for the award of the contracts by the institutions who are the procuring entities.
“It is therefore very necessary as public institutions to be properly acquainted with the Public Procurement Act of 2007.
“TETFund is fully conscious and aware of the enormous task and responsibilities of the Bureau in respect to this Act, several officials of our public Tertiary Institions are not fully conversant with laid down procedures, standards and process with regards to the award and execution of public contracts in line with the Act.”
In his welcome address, the Director-General, Bureau of Public Procurement (BPP), Mamman Ahmadu, reminded participants of the declining revenue from crude oil, which according to him, “is our main source of financing the National Budget.”
He said the essence of the work is to equip participants with the vital skills necessary to ensure that good Procurement practices are entrenched.
Ahmadu, who was represented by Engr Eze Obasi, Director, Special Procurement Department, regretted that some institutions engage contractor who do not possess proper Manufacturer’s Authorisation to procure equipment them.
He said “It is important to remind ourselves of the declining revenue from crude oil which is our main source of financing the National Budget.
“This puts more pressure on the already insufficient funds for our National development.
“Collectively, it is imperative that we collectively ensure the judicious use of funds and avoid bad Procurement practices that can lead to inefficient Procurement, litigation, Inflated contracts and abandoned projects.”
About 246 public tertiary institutions across the country, including the Universities, Polytechnics and Colleges of Education, benefited from the exercise.