Stakeholders at a procurement conference on Wednesday June 3 in Abuja called for improved access to procurement financing for small and medium-sized enterprises (SMEs), highlighting the critical role of the sector in driving economic growth, job creation and national development.
The call formed part of discussions at the conference, which brought together procurement professionals, policymakers, business leaders and development partners to explore ways of strengthening public procurement systems and enhancing opportunities for local businesses.
Speaking at the event, Chairman of the Central Planning Committee, Dr. Raphael Amalaha, said the conference provided a valuable platform for knowledge sharing, professional networking, policy dialogue and collaboration among procurement stakeholders.
According to him, the gathering was designed to foster discussions on emerging trends, challenges and innovations in procurement practice while promoting partnerships that can support sustainable economic development.
Amalaha said a major focus of the conference was the empowerment of SMEs, noting that the sector remains a key pillar of the Nigerian economy through its contributions to employment generation, entrepreneurship and wealth creation.
“We are particularly pleased with the focus on empowering SMEs, recognising their vital role in economic growth, employment creation and national development,” he said.
Participants noted that limited access to financing continues to hinder the ability of many SMEs to compete effectively for procurement opportunities, particularly in the execution of government contracts.
They stressed the need for innovative financing mechanisms and supportive policies that would enable smaller businesses to participate more actively in public procurement processes.
The conference also featured discussions on procurement reforms, capacity building, transparency, accountability and strategies for leveraging procurement as a tool for inclusive economic development.
Stakeholders expressed optimism that recommendations from the conference would contribute to strengthening procurement practices and creating a more enabling environment for SMEs across the country.
