Federal Government of Nigeria Targets Inflated Contracts
The Federal Government of Nigeria has issued a warning to heads of public institutions regarding inflated contracts and procurement violations, stating that sanctions will be imposed for breaches of the Public Procurement Act. This warning was articulated in a circular by the Secretary to the Government of the Federation, George Akume, who directed accounting officers of Federal Government-owned enterprises and other public institutions to strictly adhere to the Public Procurement Act, 2007.
The government has raised concerns over contract awards that exceed approved price benchmarks, restrict competition through exclusive arrangements for contractors, and undermine regulatory oversight. The government aims to ensure compliance and maintain integrity in public procurement processes, emphasizing that failure to comply will result in penalties.
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