November 23, 2024
Fashola

The Minister of Works and Housing, Mr. Babatunde Fashola has recommended an amendment to the Procurement Act to allow small and medium companies execute certain projects in the country.

Mr. Fashola made the recommendation while defending the Ministry’s 2021 budget before the House of Representatives Committee on Works.

The Minister said that unless the act is amended, the Executive Order 5, issued by the President would not be achieved.

“If you go through the procurement law as it currently is, the truth is that, only a certain type of contractors can bid for certain projects, that is just the law.

If you go through the law and the threshold that has been set, only certain class of contractors based on their turnovers; otherwise, they will not pass the technical and financial evaluation.

Until we urgently revisit our procurement law in order to make it more accommodating of small and medium size companies in order to achieve the President’s Order 5, of including local component and capacity contractors, then we won’t really have the spread.

As it is, only few contractors can reach this threshold; that is a matter of eminent legislative consideration and amendment.” He said.

On the Ministry’s 2020 budget performance, Mr. Fashola said that the sum of N152.1 billion was released to the works sector of the ministry, which represented 66.74 per cent out of the sum of N227.9 billion capital allocation in the 2020 appropriation.

On the 2021 budget, the Minister explained that the sum of N435.3 billion was proposed for the Federal Ministry of Works and Housing and its parastatals for capital, personnel and overhead estimates in the 2021 Appropriation Bill.

The Chairman of the Committee on Works, Alh. Kabir Abubakar said that the committee would consider the 2021 proposal speedily.

He said that the committee would work to maintain the January-December budget cycle for the development of the country.

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