Federal Government Integrates Leasing Into Bureau Of Public Procurement Framework

The Equipment Leasing Registration Authority (ELRA) and the Bureau of Public Procurement (BPP)have signed a Memorandum of Understanding (MoU) to integrate leasing into Nigeria’s nationalist procurement framework, a determination aimed astatine promoting transparency, efficiency, and fiscal prudence crossed authorities operations.

In a connection signed by the caput of Media and Corporate Communication of ELRA, Adebola Brookslyn Sunday, aft the signing ceremony, the Registrar/Chief Executive Officer of ELRA, Donald Wokoma, described the concern arsenic “a caller section successful Nigeria’s nationalist procurement framework, 1 that promotes transparency, efficiency, and fiscal prudence.”

Through the MoU, ELRA and BPP volition jointly:

Develop wide argumentation guidelines and modular documents for lease-based procurement;

Build the capableness of procurement officers crossed Ministries, Departments, and Agencies (MDAs);

Integrate ELRA’s registration strategy into the procurement workflow for improved accountability; and Pilot leasing projects successful cardinal sectors specified arsenic health, education, transport, agriculture, and ICT.

Wokoma expressed appreciation to the Director-General of BPP and his squad for their foresight and cooperation, reaffirming ELRA’s committedness to ensuring that each lease transaction nether the concern delivers measurable worth to nationalist development. He further explained that the collaboration volition trim fiscal unit connected authorities budgets, heighten work delivery, and amended plus management, aligning with the Renewed Hope Agenda and Nigeria’s thrust toward economical diversification and sustainable growth.

In his remarks, Dr. Adebowale Adedokun, Director-General of BPP, commended ELRA for initiating the collaboration and reaffirmed BPP’s committedness to processing a procurement strategy that reflects planetary champion practices.

“This MoU is timely and strategic,” Dr. Adebowale stated. “Leasing provides a viable alternate financing mechanics that supports work transportation portion safeguarding nationalist resources. By moving unneurotic with ELRA, we are ensuring that leasing transactions successful the nationalist assemblage are not lone transparent but besides present existent worth for money.”

He further noted that the concern would fortify organization capableness wrong MDAs and heighten accountability successful nationalist expenditure management, peculiarly successful the country of compliance.

“Those who volition spell into the leasing assemblage indispensable amusement intelligibly that they are registered with ELRA,” helium added. “BPP volition guarantee compliance without which a Certificate of No Objection volition not beryllium issued by the Bureau.”

Under the Equipment Leasing Act, 2015, ELRA is empowered to modulate and registry each leasing transactions successful Nigeria, ensuring credibility, accountability, and capitalist confidence. Similarly, the Public Procurement Act mandates BPP to warrant value-for-money and competitiveness successful authorities transactions. The concern harmonizes these mandates, creating a unified process for each lease-related procurements to beryllium duly registered.

The concern harmonizes these mandates, creating a unified and transparent process for each lease-related procurements to beryllium duly registered, marking a large milestone successful Nigeria’s travel toward businesslike and sustainable public procurement.