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BPP Seeks 2025 Budget Review From N63.59 Billion To N72.77 Billion

January 21, 2025
in Business News, Business Nigeria, Business Week, Community Forum, Crime Watch, Fireworks, Green Angle, Journalists Hangout, Latest Nigeria News, News at 10 PM, Political Standpoint, Politics News, Special Reports, Sports Debate, Sports Desk, The Big Issue, The Sunday Interview, This Morning, TVC Breakfast, TVC Investigates, Video
BPP Seeks 2025 Budget Review From N63.59 Billion To N72.77 Billion
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The Bureau of Public Procurement has proposed a 2025 budget of N72.77 billion to enable it carry out real time monitoring and evaluation of projects nationwide and to also deliver on electronic procurement; among other targets.

BPP now seeks the support of the House Committee on Public Procurement to raise the N1.57 billion ceiling in the Appropriation bill for capital project, away from the N63.59 billion proposed.

Adebowale Adedokun is the third substantive Director General of the Bureau of Public Procurement.

He leads the top management team before the committee on public procurement for a budget defence session.

The Committee acknowledges the contributions of the agency to changing the narrative in contract awards since 2007 when it was established.

If BPP plays its full role in the Act establishing it, Nigeria will have value for money through natural improvement in the quality of governance, procurement and project management.

The lawmakers acknowledge the challenges plaguing the agency; including office accommodation.

Nevertheless, it tasks the agency to shore up its internally generated revenue.

The agency identifies under funding, office challenge, lack of capacity for critical staff and some non state actors as some of its challenges.

For the 2024 budget, BPP received N2.23 billion, out of which N289.4 million was for capital expenditure, an amount it insists was grossly inadequate. N1.26 billion was for Overhead and N680.4m for personnel cost.

In the new year, BPP has N3.38 bilion, excluding personnel cost, a far cry from the N72.75 billion proposed.

Addressing the challenge of office accommodation, electronic procurement, capacity building, intense audit exercise and real time monitoring and evaluation of contracts are some of the agency’s target in 2025; but it worries, lack of funds may hinder set goals.

BPP believes it can conveniently contribute to the nation’s gross domestic product if given the wings to fly.

Legislators are concerned about the underfunding of an agency they describe as critical to nipping corruption in the bud and promise to work towards an increase through the committee on Appropriation.

 

 

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