Rivers State Governor, Rotimi Amaechi, has identified large-scale mismanagement and corruption by public servants as a major factor bedeviling the nation's economy.
He also said the concept of over-inflation and extra- budgetary expenditure by public servants led to the introduction of Public Procurement Act by both the federal and state governments, as a way of checkmating numerous unexecuted projects, through which government retrieves funds already paid out.
The governor, who spoke at a one-day public procurement seminar organised by the Rivers State government, also expressed worry that existing laws in the country were insufficient to ensure financial responsibility and transparency in public office holders.
Amaechi further warned public servants, contractors and suppliers of works on the need to take note of the Procurement Act, and added that heinous crimes such as militancy and societal decadence were due to failure of the government to provide social security for its citizens.
He advised that tendering processes should be taken seriously and in line with project specifications.
The governor noted that the criteria for the award of contracts should be open and in accordance with the rules.