Take Advantage of New FG Procurement Affirmative Policy, Adetokun Urges Group
Naija News • 1h ago
**Opportunities Knock for Marginalized Groups as FG's New Procurement Policy Takes Shape**
In a significant move to promote inclusivity, the Federal Government has introduced a new affirmative procurement policy aimed at empowering vulnerable groups in Nigeria. According to Dr. Adebowale Adedokun, Director-General of the Bureau of Public Procurement (BPP), women, youths, persons with disabilities, and veterans can now organize themselves into viable business groups to take advantage of this policy.
This policy marks a major shift in the government's approach to public procurement, with President Bola Ahmed Tinubu's administration prioritizing the participation of marginalized groups in the economy. For the first time, a specific procurement framework is being created to cater to the needs of these groups, providing them with opportunities to compete for contracts within approved thresholds.
Under the new policy, Ministries, Departments, and Agencies (MDAs) will be required to create dedicated procurement portfolios for the targeted groups. This means that quotas will be set aside for women-owned businesses, youth-led enterprises, persons with disabilities, and veterans within existing appropriations. However, beneficiaries must demonstrate professionalism and competence to qualify for these opportunities.
To support the implementation of this policy, the BPP is engaging with financial and insurance institutions to ease access to finance for the targeted groups. This includes addressing structural barriers that have hindered their participation in public procurement in the past.
The new policy aligns with the administration's Nigerian First Policy and the President's vision of building a $1 trillion economy through inclusive participation. By creating opportunities for marginalized groups to contribute to the economy, the government aims to foster a more equitable and sustainable growth trajectory.
As the implementation of this policy gains momentum, it is essential for these groups to organize themselves into viable business entities and demonstrate their capacity to deliver. By doing so, they can unlock new opportunities for growth and development, and contribute to the realization of the President's vision for a more inclusive economy.