Tertiary Institutions can Terminate Erring Contractors- TETFund.
The Tertiary Education Trust Fund (TETFund), has recently recommended that Tertiary Institution terminate contracts of erring contractors handling projects in tertiary institutions benefiting from its interventions.
This announcement was made known during the weekend at the 2022 Annual General Meeting of the Procurement Professionals Association of Nigeria (PPAN) by the Executive Secretary of TETFund, Arc. Sonny Echono.
Arc. Exchono, acknowledged that there were challenges of high cost of materials in the last one year, and the agency has been trying to cope with the situation, and was working with regulatory authorities to get support towards ensuring that there were no abandoned projects in its beneficiary institutions.
In his words: “We will be working closely with the regulatory authorities to see how we can get support for this and ensure that we don’t have abandoned projects because ultimately, it is better to solve the problem today; the more you delay, the more the cost will increase and the greater the complications will be.
“So, we are working in a very nimble manner, we are working with the contractors, institutions. We are already meeting. The whole of last week we met with many institutions that have such challenges and we will continue for the rest of this week. We are finding solution.”
Furthermore, he described embezzlement of fund meant for the intervention as one of the manifestations of mis-procurement, adding that a good procurement is one that delivers on the objective, at the right time and at the right cost to the satisfaction of all.
