The Public Procurement Act 2007 was signed into law on 4 June, 2007 by the late President Umaru Yar' Adua.
The Secretary to the Government of the Federation, George Akume, on Thursday, inaugurated a committee to review the Public Procurement Act 2007 in line with current economic realities in the country.
Mr Akume in his inaugural speech recalled that the Public Procurement Act 2007 was signed into law on 4 June, 2007 by the late President Umaru Yar' Adua.
The SGF explained that: "The Act provides the legal and institutional framework for the enthronement of transparency, accountability, value for money and efficiency in the procurement of works, goods and services within the Ministries, Departments and Agencies (MDAs).
"The Public Procurement Act 2023 established the National Council on Public Procurement and the Bureau of Public Procurement as the regulatory authorities responsible for the monitoring and oversight of public procurement, harmonising the existing government policies and practices by regulating, setting standards and developing the legal framework and professional capacity for public procurement in Nigeria; and for related matters" he added.
"Having implemented the Public Procurement Act for over 15 years, this Administration has seen the need to review and strengthen the provisions of the Act to make it more responsive to the needs of the people. The objective of this review is to ensure realistic procurement outcomes in the face of current economic realities and to enhance budget implementation and ease of doing business."
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The membership of the committee is as follows:
Attorney-General of the Federation and Minister of Justice - Chairman
Honourable Minister of Finance and Coordinating Minister of the Economy - Member
Honourable Minister of Budget and Economic Planning - Member
Director-General, Bureau of Public Procurement - Member
Representative of the World Bank - Member
Messrs KPMG Nigeria - Technical Consultants
Permanent Secretary, Cabinet Affairs Office - Member/Secretary
The Terms of Reference of the Committee are as follows:
i. Undertake a holistic review of the Public Procurement Act 2007 by identifying key impediments militating against compliance with the Act;
ii. Make recommendations that will strengthen the provisions of the Act to ensure transparency, accountability, value for money, efficiency and timely delivery in the procurement of works, goods and services by Ministries, Departments and Agencies;
iii. Develop a draft amendment Bill for consideration by the Federal Executive Council;
iv. Any other assignment as may be directed by the President.
The SGF urged members of the committee not to relent in the discharge of this huge task.
