The Federal Government of Nigeria has announced plans to start the pilot phase of electronic procurement (E-Procurement) systems in six ministries.
The government says a total of 48 billion Naira is expected to be saved from the new initiative.
The Acting Director General of the Bureau for Public Procurement, Mr Ahmed Abdu, announced the plan on Monday while speaking at a meeting on procurement in Abuja, Nigeria’s capital.
He explained that the savings from the e-procurement platform would represent five per cent of savings from the recurrent expenditure and three per cent on capital expenditure.
Mr Abdu said some of the ministries to start the e-procurement process are health, education, agriculture, transport, water resources, as well as that of works, power and housing.
The administration of Muhammadu Buhari has stressed that it would cut down the cost of governance to ensure that the nation’s revenue which had declined due to the drop in the price of crude oil will not affect development.
The government is looking to save funds as much as it could to cater for the over two trillion Naira deficit in the 2016 budget.