The National Assembly (NASS) Committee on Public Procurement on Friday commended the management of the Yaba College of Technology for investing their Internally Generated Revenue (IGR) on capital project.
Mr Oluwole Oke, chairman, House Committee on Public Procurement, made the commendation during the committee’s visit to the institution.
Oke said that the institution was receiving allocations from: the national budget, TETFund and their IGR.
He said that it was commendable that the institution had used part of its IGR on capital.
“I want to commend the institution for spending part of their IGR on capital project.
“Some schools and other agencies see the IGR as free money and spend such revenue on recurrent expenditure.
” So, very soon, we will physically inspect the capital project carried out by the college, ” he said.
The chairman of the committee said the visit to the college was in pursuant of the law which mandated it to ensure that ministries and agencies of government comply with public procurement act.
“The committee is here to monitor and see how far the Yaba College of Technology has complied with the provisions of the public procurement act.’’
As a proactive parliament under the leadership of the Speaker, Honourable Yakubu Dogara, we have to ensure compliance with the procurement act .
“And that is why we are here to see how far the college has gone in the execution of their capital project from 2011 to date,” he said.
The Rector of the institution, Dr Magret Ladipo, while addressing the committee said that the college had maintained very high academic standard for the past 70 years.
Ladipo gave an overview of the college as having nine schools, 47 departments and runs a full complement of 130 programmes with a student population of 33,360.
The rector added that the college had complied with the committee’s directives and collated the requested document comprising approved capital budgets from 2011 to 2016. (NAN)