The Bureau of Public Procurement says it has saved more than N1.5 trillion in public funds over the past 18 months through tighter price controls and digital compliance measures.
BPP Director-General, Adebowale Adedokun, disclosed this on Friday at a three-day capacity-building workshop organised by the Nigeria Deposit Insurance Corporation in partnership with the bureau in Lagos.
Adedokun described public procurement as a key driver of national development, stressing that effective procurement can create jobs, improve infrastructure, support local businesses and ensure value for money. He also warned that the integrity of the system depends on those responsible for implementing it.
NDIC Managing Director, Thompson Sunday, said transparent and cost-effective procurement was essential to the corporation’s mandate, reaffirming its commitment to compliance with the Public Procurement Act 2007 and relevant regulations.
The workshop examined reforms including the digitisation of procurement, e-procurement platforms, stricter price benchmarking and local content enforcement, alongside guidance on compliance, procurement planning and contractor monitoring. The BPP said the measures are aimed at reducing inflation, loopholes and other leakages in public spending, with procurement accounting for a significant share of government expenditure.
