BPP Urges Financial Institutions to Support Women, Youth-Owned Businesses
The Bureau of Public Procurement (BPP) has called on financial institutions and development partners to prioritise access to finance for women, youth and vulnerable group-owned businesses to enable their participation in government contracts.
The Director-General of BPP, Dr Adebowale Adedokun, made the call in Abuja while outlining a new national policy on inclusive public procurement aimed at expanding opportunities for underrepresented groups.
He identified women-owned enterprises, youth-led businesses (18–35 years), persons with disabilities, veterans, internally displaced persons and small and medium enterprises (SMEs) as key beneficiaries of the policy.
“We cannot help these groups without also providing access to funding. I am calling on banks and development partners to take access to finance for this group of people as a priority,” he said.
Adedokun noted that many women and youth-owned businesses face structural barriers such as limited access to finance, gender bias, high collateral requirements and weak professional networks.
According to him, the policy seeks to dismantle such barriers and integrate these groups into the national economic ecosystem.
He described public procurement as a strategic instrument for social inclusion, economic diversification and poverty reduction, stressing that it accounts for a significant portion of national expenditure.
An inclusive procurement framework, he said, would help reduce inequality and the feminisation of poverty by ensuring equitable participation in government contracting.
Adedokun added that the BPP was engaging the Corporate Affairs Commission (CAC), financial institutions and other regulators to simplify processes and eliminate unnecessary requirements that hinder participation.
He also advocated innovative measures such as joint bidding arrangements, contract unbundling and mandatory subcontracting to enable smaller and emerging businesses to benefit from larger contracts.
To ensure effectiveness, he said compliance would be closely monitored, with sanctions for non-compliance.
The BPP boss further disclosed that the bureau had embarked on nationwide stakeholder engagements, including visits to Lagos and Kano, to sensitise business communities and gather feedback.
He described the reform as a paradigm shift in public procurement, aimed at promoting inclusivity, diversity and sustainable development.
“This policy is to strengthen existing mechanisms and bring those outside the ecosystem into it,” he said.
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