BPP blocks inflated contracts, saves FG N1.4trn in 18 months

*Contractors now seek price benchmarks before bidding — DG

By Babajide Komolafe

The Bureau of Public Procurement, BPP, has saved the Federal Government about N1.4 trillion in 18 months by blocking inflated contract prices through the introduction of price intelligence and benchmarking.

Director-General of BPP, Dr. Adebowale Adedokun, disclosed this yesterday in Lagos, saying the reforms had also forced contractors to seek the agency’s price benchmarks before submitting bids.

He spoke during a media interview on the sidelines of the public procurement capacity-building workshop for Senior Management and Executive Staff that the Nigeria Deposit Insurance Corporation (NDIC) organized with the Bureau.