The Bureau of Public Procurement has implemented a Beneficiary Ownership Scheme to uncover and eliminate fraudulent activities within the procurement process. The Director-General of BPP, Adebowale Adedokun, made this announcement during a press conference titled “Renewed Hope Through Strategic Procurement.”
Adedokun stressed that the scheme would help identify any civil servants or public officials engaged in illegal practices. The BPP is collaborating with institutions like the Economic and Financial Crimes Commission, the Independent Corrupt Practices Commission, and the Code of Conduct Bureau to ensure accountability.
The Director-General highlighted the importance of open competition in procurement processes to reduce costs and mentioned the BPP’s Price Intelligence Unit, which monitors real-time prices across different zones to address inflated project costs.
Adedokun also encouraged local contractors to uphold ethical practices and assured them of government support. He shared a success story of saving $115,000 in a single power project transaction through negotiation, showcasing the bureau’s commitment to transparency and efficiency in public procurement to combat corruption in Nigeria.