Nigeria News

Nigeria FG Saves N420bn in 15 Months from New Procurement Law.

The Director-General, Bureau of Public Procurement (BPP), Mr Emeka Eze, has said over N420 billion had been saved for Federal Government in the last 15 months through the activities of the bureau on contract valuation.

Ezeh, who was speaking at the opening of a retreat for Chief Executive Officers in Federal Government’s Ministries, Departments and Agencies (MDAs) organised by the Bureau, in Lagos, at the weekend, explained that the said fund was recovered after valuation of contracts that were submitted by contractors, stating that the reduction in contract sum further emphasized the core value of BPP as the drive of public procurement and prudence in public expenditure.

He assured that the bureau would continue to ensure that there was transparency in the bidding process for contracts in the country, stressing that all competent contractors would be given a level playing field to demonstrate their capacity and pass through open competitive bidding process enshrined in the Act.

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