Violation of procurement act stalls project execution—TETFund
Tertiary Education Trust Fund (TETFund) said the violation of public procurement act in award and execution of public contracts hinders the smooth and timely execution of TETFund intervention projects in tertiary institutions across the 36 states and FCT.
The Executive Secretary of TETFund Sonny Echono, disclosed this Wednesday at a three-day capacity building workshop on procurement processes, organised for TETFund Beneficiary Institutions in conjunction with Bureau of Public Procurement holding in Enugu.
Represented by the Director Strategic Planning and Development of TETFund, Mr Irene Erivwo, the Executive Secretary regretted that several officials of public Tertiary Institutions are not fully conversant with laid down procedures, standards, and processes with regards to the award and execution of public contracts in line with the Act.
He, however, warned the TETFund beneficiary institutions in the country to be accountable in public procurement processes, while accessing fund for various institutions, adding that about 80 to 90 per cent of its activities revolves around procurement.
He said, “While TETFund is fully conscious and aware of the enormous task and responsibilities of the Bureau in respect of this Act, several officials of our public Tertiary Institutions are not fully conversant with laid down procedures, standards, and processes with regards to the award and execution of public contracts in line with the Act.
“Such ignorance many times have led to avoidable problems that hinder the smooth and timely execution of TETFund intervention projects in tertiary institutions across the country. Familiarity with the public procurement laws remains a national priority and is tied to the achievement of the national interest and objective of development through the eradication of irregular practices in awards and execution of public contracts.”
He said World Bank report on award has shown that average of 10 billion dollars is lost yearly to fraudulent practices in execution of public contracts through inflation of cost, lack of procurement plans, poor project prioritisation, poor budgeting process, lack of competition and value for money and other methods that influence procurement and contract award process.