The Bureau of Public Procurement has said it saved more than N26.86 billion for the Federal Government in 2018 alone, by revising down inflated contract sums by government contractors.
BPP revealed this in its 2018 annual report released by the bureau
According to the report, the savings are from the review of contracts awarded to contractors by various Ministries, Departments and Agencies before being given certificates of “No Objection’’ by the bureau.
The report showed that in 2018, 86 certificates of “No Objection’’ was given out by the bureau to MDAs for contracts initially totalling N1.421 trillion but was later reduced to N1.394 trillion.
Of the savings made, the highest amount of N22.22 billion was recorded from the Ministry of Power, Works and Housing.
The money was saved from an initial request of N877.40 billion.