BPP Reports N1.5tn Savings from Procurement Reforms

The Bureau of Public Procurement (BPP) announced that it has saved over N1.5 trillion in public funds over the past 18 months through the implementation of stricter price benchmarking controls and digital compliance mechanisms as part of ongoing procurement reforms. This announcement was made by the Director-General and Chief Executive Officer of the BPP, Adebowale Adedokun, during a three-day capacity development workshop organized by the Nigeria Deposit Insurance Corporation (NDIC) in collaboration with the BPP in Lagos.

The workshop focused on the theme “Driving Excellence Through Transparency, Compliance, and Efficiency.” Adedokun highlighted the critical role of public procurement in national development, stating that it can create jobs, improve infrastructure, and enhance citizens' lives. NDIC's Managing Director and Chief Executive Officer, Thompson Sunday, reaffirmed the importance of procurement in achieving the corporation's objectives and its commitment to adhering to the Public Procurement Act of 2007.

The workshop also addressed ongoing procurement reform initiatives under President Bola Tinubu’s Renewed Hope Agenda.