ABUJA—BARING last minute changes, the budget Monitoring and Price Intelligence Unit in the Presidency will this week submit two bills which have already received the blessing of the president, Chief Olusegun Obasanjo before the National Assembly for consideration.
Bills on Federal Procurement Commission and the Fiscal Responsibility are aimed at transforming the Budget Monitoring and Price Intelligence Unit [the current Due Process activities] into a Commission in order to ensure the continuity of its activities even after the present administration must have completed its tenure.
Delivering a lecture: “Due Process Issues In Public Procurement, Cost and Contract Management: The Nigeria Experience” organized by the Certified Institute of Cost Management of Nigeria, Abuja Chapter at the Weekend, the Senior Special Assistant to the President and the Head Budget Monitoring and Price Intelligence Unit, Mrs. Obiageli Ezekwesili said that the current reforms by her unit is aimed at replacing the existing business as Usual syndromes with specific strategies for the empowerment of Nigerians eradication of poverty in the society, entrenchment of transparency as well as encourage competition in all transactions both in the public and private sectors of the economy.
According to her, past governments had extant policies and guidelines for procurement, but noted that the guidelines were enveloped with mirage of problems.
“Lack of competition and transparency in projects procurement leading to high cost of projects. Where advertisements were made, the application rules were tilted in favour of a predetermined winner. Projects were not prioritized and harmonized; consequently several Ministries were pursuing supposed needs simultaneously without coordination.”
“Unjustifiable gap existed between budget and actual releases leading to under funding, delayed completion, price escalation and project abandonment. Absence of efficient and effective project monitoring aimed at ascertaining compliance with original project plans and targets,” she said.
Mrs. Ezekwesili who also represented the President as the Special Guest of Honour at the event whose theme was ““Evolving an effective Cost Management system for Sustainable Growth and Development of the Nigerian Economy” noted that the overall goal of the BMPIU is to be at the vanguard of ensuring fiscal transparency, strict compliance with Federal Government guidelines on Due Process Certification with respect to budgeting for and procurement of facilities as well as contracts at appropriate costs.
She said that Due Process mechanism which is both knowledge and competence based will not only enhance continuous professional development but would enable professionals and Corporate bodies keep abreast with related and relevant opportunities now and in the future.
“Due Process policy is cardinal to the future economic emancipation of the Nation. Projects shall be procured at competitive prices, ensuring value for money, more Nigerians shall have access to public procurements through the open bid process””, she said warning that Mega projects that do not have any bearing with the economic well being of Nigeria shall be dispensed with.
Earlier, in his address of welcome, the Chairman of the Institute, Mr. David Olofu said that the establishment of the Institute is a private initiative aimed at addressing the problems undermining our development through awareness, education and promotion of Cost Management consciousness and culture in the conduct of business both in the public and private sectors.
