BPP Says It Detects N26.8bn Inflation On Federal MDAs Contracts

The Bureau of Public Procurement (BPP) says it discovered massive inflation of contracts by Federal Ministries and Agencies (MDAs) to the tune of #26.86 billion in 2018.

The bureau in its 2018 annual report says following the discovery, it revised down the #1.42 trillion awarded by the MDAs in 2018 down to #1.1394 trillion.

Power, Works and Housing Ministry, according to the report, recorded the highest inflated contracts by #22.22 billion, followed by #521 million cut from contracts awarded by Transportation Ministry.

Others savings from massive inflated contracts are #494.9 million cut from military contracts on critical equipment; #336.5 million from contracts awarded by Finance Ministry, as well as the Petroleum Resources Ministry whose contracts were inflated by #271 million.

READ ALSO: Ondo To Use N50bn Bond To Finance Projects

 

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