The head of the Bureau of Public Procurement recently revealed that the agency has prevented Nigeria from losing a substantial amount of money, approximately N1.9 trillion, to fraudulent contracts over time. He shared this information during a budget defense meeting with the Senate Committee on Public Procurement in Abuja.
Established 17 years ago, the BPP plays a vital role in combating corruption related to contract awards, inflation, and diversion. The agency has been instrumental in promoting transparency, fairness, and efficiency in the process of awarding and executing contracts in Nigeria.
The BPP has successfully saved the country from losing around N40 billion annually due to issues such as contracts inflation, fund diversion, and poor service delivery. The agency’s efforts have helped prevent a significant amount of money from being misappropriated for personal gain.
Despite proposing a capital vote of N63.5 billion for 2025, the BPP received only N157 billion from the budget office. This limited allocation poses challenges for the agency, including addressing staff accommodation issues, replacing outdated project monitoring vehicles, and implementing the e-procurement program.
The committee, led by Senator Olajide Ipinsagba, expressed concern about how the BPP, with a small workforce of 158 employees, could effectively oversee contract awards and executions for over 800 government agencies. In response, the committee directed the BPP Director-General to include the recruitment of more staff in the agency’s 2025 budget.