By Lucy Ogalue
The Bureau of Public Procurement (BPP) has called on financial institutions and development partners to prioritise access to finance for women, youth and vulnerable group-owned businesses.
The Director-General of BPP, Dr Adebowale Adedokun, said this was to enable their participation in government contracts.
Adedokun made the call while outlining a new national policy on inclusive public procurement designed to expand opportunities for underrepresented groups in Abuja on Tuesday.
He identified women-owned enterprises, youth-led businesses (18–35 years), persons with disabilities, veterans, internally displaced persons and SMEs as key target groups under the policy.
“We cannot help these groups without also providing access to funding.
“I am calling on banks and development partners to take access to finance for this group of people as a priority,” he said.
Adedokun said that many women and youth-owned enterprises faced structural barriers, including limited access to finance, gender bias, high collateral requirements and weak networks.
He said that the policy was aimed at dismantling such barriers and integrating the groups into the national economic ecosystem.
According to him, public procurement serves as a strategic tool for social inclusion, economic diversification and poverty reduction.
“Public procurement represents a significant portion of national expenditure.
“It is a powerful instrument for economic development,” he said.
He said that an inclusive procurement policy sought to reduce inequality and feminisation of poverty by ensuring equitable participation in government contracting.
Adedokun said that the BPP was engaging the Corporate Affairs Commission (CAC), financial institutions and other regulatory bodies to simplify processes and reduce unnecessary requirements that hindered participation.
He also called for innovative measures such as joint bidding arrangements, contract unbundling and mandatory subcontracting to enable smaller and emerging businesses to benefit from larger contracts.
To strengthen enforcement, the BPP boss said that compliance would be monitored and non-compliance could attract sanctions.
He further said that the BPP had embarked on nationwide stakeholder engagements, including visits to Lagos and Kano, to sensitise business communities and gather feedback on implementation strategies.
He described the reform as a paradigm shift in public sector procurement, aimed at promoting inclusivity, diversity and sustainable development.
“This policy is to strengthen existing mechanisms and bring those outside the ecosystem into it,” he said. (NAN)(www.nannews.ng)
Edited by Kadiri Abdulrahman
