Abuja: The Bureau of Public Procurement (BPP) has called on financial institutions and development partners to prioritize access to finance for businesses owned by women, youth, and vulnerable groups. Dr. Adebowale Adedokun, the Director-General of BPP, emphasized that this is essential to enable these groups to participate in government contracts. He made these remarks while unveiling a new national policy on inclusive public procurement aimed at expanding opportunities for underrepresented groups in Abuja.
According to News Agency of Nigeria, Adedokun identified women-owned enterprises, youth-led businesses, persons with disabilities, veterans, internally displaced persons, and SMEs as the key target groups under the policy. He highlighted the structural barriers faced by many women and youth-owned enterprises, such as limited access to finance, gender bias, high collateral requirements, and weak networks. The policy aims to dismantle these barriers and integrate these groups into the national economic ecosystem.
Adedokun further explained that public procurement is a strategic tool for social inclusion, economic diversification, and poverty reduction, representing a significant portion of national expenditure. He stated that the inclusive procurement policy seeks to reduce inequality and the feminization of poverty by ensuring equitable participation in government contracting.
The BPP is working with the Corporate Affairs Commission (CAC), financial institutions, and other regulatory bodies to simplify processes and reduce unnecessary requirements that hinder participation. Adedokun 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, compliance will be monitored, and non-compliance could attract sanctions. The BPP has embarked on nationwide stakeholder engagements, including visits to Lagos and Kano, to sensitize business communities and gather feedback on implementation strategies. Adedokun described the reform as a paradigm shift in public sector procurement, aimed at promoting inclusivity, diversity, and sustainable development.