Recession: Federal Govt to relax procurement conditions

Minister of Finance, Mrs Kemi Adeosun

The Federal Government yesterday said it would consider relaxing some of the procurement conditions contained in the procurement law in order to get Nigeria out of recession. Minister of Finance, Mrs. Kemi Adeosun, spoke when she appeared on a television programme monitored in Abuja.

The minister said because of the strict procurement law, some ministries have not been able to access the N350 billion released recently by the government.

She said: “There are some ministries that have been slowed down by the procurement processes. It is about transparency versus speed. We want open tenders because that gives us the best price and that is what also gives opportunities to Nigerians to bid for and to get government contracts. “If it is taking between four and 16 weeks to get through the bureaucracy, at this point in time, we think we can’t afford those delays.

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