BPP saves N32bn from contract review in 2016

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The Bureau of Public Procurement saved the nation N32bn through its review of contracts for capital projects, its 2016 annual report says.

According to the report, the savings are from the review of contracts awarded to various Ministries, Departments and Agencies.

It said N2.71tn was requested for projects by 23 MDAs while N2.68tn was certified and approved.

Of the savings made, the highest amount of N22.4bn was recorded from the Ministry of Power.

The money was saved from an initial request of N1.929tn, indicating that N1.907tn was awarded for projects for the ministry.

It also saved N5.7bn from the Office of the Secretary to the Government of the Federation from an initial request of N32.3bn, indicating that N26.6bn was awarded for its projects.

The BPP also saved N1.39bn for projects from the Ministry of Petroleum from an initial request of N19bn, giving approval of N18.6bn.

For the Ministry of Transport, it saved N818.7m from a request of N555.3bn, approving N554.5bn for its capital projects.

About N72m was also saved from the Central Bank of Nigeria from an initial request of N6bn.

No savings were made from the Ministry of Science and Technology; Youths and Sports; Communication Technology and the Economic and Financial Crimes Commission as they all got what they requested for.

Science and Technology requested for and was awarded contracts worth N580m; Youth and Sports, N1.1bn; Communication Technology, N101.1bn and EFCC N311m.

The report stated that BPP received 374 complaints from petitioners in 2016 and was able to close 260 while investigations were still ongoing for 114 of them.

It said the petitions were treated to achieve value for money to the Federal Government by ensuring full compliance with the Public Procurement Act (PPA) 2007.

It also issued 227 certificates of “No Objection’’ to MDAs at the values stated.

The BPP was established in 2007 to ensure transparency, competition and quality in the nation’s public sector procurement process.

(NAN)

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Godwin Okafor is a Financial Journalist, Internet Social Entrepreneur and Founder of Naija247news Media Limited. He has over 16 years experience in financial journalism. His experience cuts across traditional and digital media. He started his journalism career at Business Day, Nigeria and founded Naija247news Media in 2010. Godwin holds a Bachelors degree in Industrial Relations and Personnel Management from the Lagos State University, Ojo, Lagos. He is an alumni of Lagos Business School and a Fellow of the University of Pennsylvania (Wharton Seminar for Business Journalists). Over the years, he has won a number of journalism awards. Godwin is the chairman of Emmerich Resources Limited, the publisher of Naija247news.

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