Business
Understanding The Ethics Of Public Procurement
Speech presented at the second phase of National Sensitisation and Enlightenment Programme on the Public Procurement Act 2007 In Port Harcourt
This sensitisation season marks another phase of our efforts at creating awareness amongst the citizenry on the principles and importance of public procurement. We made progress in this regard last year and we are continuing this year. It is important to continue to tell our people what we need to gain by following procedures in public contracting, so that we can make the much desired social, economic and political progress. I am optimistic, like I do know many of you are that we shall sooner than later take Nigeria to the promised land.
Let me, however, tell again how we got to where we are, so that we can understand the present and probably interpret the future. The Bureau of Public Procurement (BPP) was established in 2007 following the signing into law of its enabling act by President Umar Musa Yar’Adua. It was the first act to be signed into law by the new president. The Bureau developed through the former office of Budget Monitoring and Price Intelligence Unit (BMPIU), established in 2001 by the former President Olusegun Obasanjo.
The bureau emerged because of the need to check the open abuse of rules and standards in the award and execution of public contracts in Nigeria. The abuses were evident in over-invoicing, inflation of contract costs, proliferation of white-elephant projects and diversion of public funds through all kinds of manipulations of the contract system. The implication of these lapses in the country’s procurement system over the years was the abandonment of governments projects after large sums of money have been paid out to contractors from public funds. Above all, it brought about endemic corruption, poor service delivery, poverty and denial of social amenities to the people.
The vision of the BPP is to restore transparency, competition, competence, integrity and value for money in the award and execution of public contracts in Nigeria. The BPP, therefore, implements a Procurement Reform Agenda that uses what can be called a Due Process Mechanism to restore and maintain openness, competition, budgetary discipline, optimal costs and efficient projects implementation in a planned and coordinated framework.
The BPP has long being involved in several sensitisation efforts across the country. With the support of the WorId Bank Economic Reform and Governance (ERGP) project, the bureau, has been educating the Nigerian populace on the importance of implementing best procurement practices. There have been and would continue to be newspaper adverts, journal publications, Radio and TV jingles on the activities of the bureau and on details of the public procurement act. The bureau has also been organising conferences so the nation can expand their understanding of the ethics of public procurement. One such conference, an international one, was recently held between June 29th and 30th in Abuja. It was attended by resource persons from across sections of the world and it afforded us an opportunity to compare notes with other countries, so that we can benefit from their procurement experiences and they might also gain from us. The sensitisation, education and public awareness processes are continuing in the interest of establishing best procurement practices consciousness amongst the citizenry. This would eventually lead to a change in attitude and then an attendant development of the countries’ institutions.
For the bureau to achieve its objectives, it has been consistent in insisting on the need for probity, transparency and accountability within its management. The leadership has often emphasised the need to show example by ensuring that what is preached is implemented in the bureau. The bureau’s officials have often been educated on the need not to compromise their integrity in the course of their duties. The bureau hopes to achieve its aim through ensuring forthrightness in its activities and through constant training and retraining of its staff.
As a new policy, the implementation of the Procurement reforms has continued to generate fears, debates and concerns in some quarters. Experience has showed that there are some elites who have a good understanding of what the bureau stands for and are, therefore, ready to help it work. There are also those who genuinely do not understand its modus operandi, which is why the bureau has been painstaking in sensitisation and in creating awareness.
At the same time, there are beneficiaries of the old order, who understands the multiple benefits of the public procurement reform policy but deliberately and out of self and narrow interest, choose to misinform, misrepresent, vilify and condemn the genuine intentions of government with the goal of frustrating the idea. Some politicians are also unrelenting in trying to prevent the proper operations of the bureau, but we have been sustained by the determination of the President Umar Yar’Adua’s anti-corruption stand and are assured of the need to steady our gait in falling in line.
The bureau has commenced its constitutional responsibility to ensure that all the provisions of the Public Procurement Act are strictly followed in the award and execution of all government contracts. Intensive public enlightenment campaigns on procedures in contract award and execution by MDAs and the role of stakeholders including contractors, consultants and, the general public are ongoing through the BPP jingles on radio and television stations. The bureau’s audit monitoring of the budget as constitutionally guaranteed, is also ongoing as part of a holistic attempt at ensuring a successful fiscal policy.
Other than that, the bureau is presently organising workshops for stakeholders in different government ministries and departments. The first was held July 27th and 28th for procurement personnel in the Federal Ministry of Works and- Housing. It is continuing as it would also be done for other ministries. Once again, I welcome us all and wish us all successful interactive session.
Eze is the Director-General, Bureau of Public Procurement (BPP)
Business
Nigeria Loses N17tr Yearly To Abandoned Projects
The Minister of State for Industry, Trade and Investment, John Enoh said this at the 8th annual induction and conference of the Chartered Institute of Project Managers of Nigeria (CIPMN).
He explained that abandoned projects continue to lock up public funds that could have been used for infrastructure development, industrial growth, job creation and essential social services.
Represented by the ministry’s Permanent Secretary, Chris Osa Isokpunwu, he said the impact goes beyond financial losses, as incomplete projects affect communities and limit access to important public services
He cited examples of that remain unopened, schools that cannot accommodate students, roads that fail to connect communities and electricity projects that have not delivered their intended benefits.
The Registrar-General and Chief Executive Officer of CIPMN, Henry Ifeanyi Mbadiwe, also identified poor project management as a major challenge affecting development in Nigeria.
He revealed that the institute had developed a project management curriculum for Nigerian universities, which has received approval from the National Universities Commission (NUC). The programme is expected to enable universities to offer project management as a bachelor’s degree.
Mbadiwe further referenced findings by the Presidential Projects Assessment Committee, which identified 11,886 ongoing federal capital projects in 2011, with an estimated financial commitment of ?7.78 trillion.
He noted that inadequate planning, supervision, accountability and implementation were among the factors contributing to the abandonment of projects across the country.
The minister called for stronger project management structures across ministries, departments and agencies to improve planning, monitoring and evaluation.
He added that the Federal Ministry of Industry, Trade and Investment had introduced a 90-day implementation reporting cycle to strengthen transparency and monitor the progress of government programmes.
Business
Transcorp Power seeks sustained investment across Nigeria’s electricity value chain
Ikenga said the company remained committed to Nigeria’s power sector and would continue investing in its operations despite the challenging business environment.
He spoke in Lagos at the third edition of the Shell Power Conference, themed “Powering Nigeria’s Progress: Turning Ambition and Action into Sustainable Impact”.
The Transcorp Power chief said the company would sustain electricity generation, invest in its facilities and deliver value to shareholders.
“Transcorp Power is a long-term player, not a short-term player. This year has been challenging, but what is important is getting power to schools, hospitals and businesses to power progress,” he said.
Ikenga said the company’s focus on operational efficiency and investment had strengthened its contribution to Nigeria’s electricity supply.
He disclosed that since acquiring the Ughelli Power Plant in Delta State in 2013, Transcorp Power had quadrupled its available generation capacity.
He also said the company became the first privatised power generation firm to receive a post-privatisation discharge certificate after fulfilling all its privatisation obligations.
The company’s unaudited results for the nine months ended September 30, 2026, showed a profit before tax of N83.1 billion, while its profit-before-tax margin rose to 31.2 per cent from 29.6 per cent recorded in the corresponding period of 2025.
Its total assets rose to 11.7 per cent amounting to N629.5 billion, while shareholders’ funds grew 8.9 per cent to N199.8 billion. Cash and cash equivalents also rose to N10.3 billion, supported by improved collections.
On the company’s contribution to grid stability, Ikenga said Transcorp Power’s black-start capability enabled it to restart operations without relying on electricity from the national grid.
He explained that the capability allowed the company to support power restoration following grid disturbances, helping to restore electricity supply to homes, businesses and industries.
Ikenga noted that Nigeria had an installed electricity generation capacity of about 13,000 megawatts, with an estimated potential of 50 gigawatts, adding that realising the potential would require effective coordination across the entire value chain.
“Everything in the value chain has to work,” he said.
He called for stronger collaboration among federal and state governments, regulators and private-sector operators, alongside increased private investment, to build a sustainable electricity market.
Business
FG generates N33tn revenue in 10 months – Oyedele
This was contained in a statement issued on Thursday by his Senior Special Assistant on Communications and Press Secretary, Maryann Duke.
The statement said Oyedele pointed to “improved digital systems, including electronic invoicing, as a key driver behind a record of N33tn in government revenue collected between January and October 2026.”
The minister said the performance demonstrated the potential of technology to improve revenue administration, strengthen compliance and increase efficiency across government institutions.
Speaking on the theme, ‘Digital Sovereignty and Ethics: Guarding the Economy for the Next Generation,’ Oyedele warned that Nigeria risked losing substantial economic opportunities if it continued to depend heavily on foreign digital infrastructure.
Citing Nigerian Communications Commission figures, he disclosed that the country recorded more than 157 million active internet subscriptions as of May 2026.
He explained that these connections generated significant volumes of information through financial transactions, healthcare, education and taxation.
However, citing estimates from the Nigeria Data Protection Commission, Oyedele said as much as 90 per cent of the country’s data was hosted abroad.
According to him, the situation has implications for foreign exchange expenditure, employment opportunities, technological skills and Nigeria’s control over information generated by its citizens.
He compared the country’s reliance on foreign digital infrastructure with its historical dependence on imported refined petroleum products, warning against a situation where Nigerian data would be processed abroad and the resulting services sold back to domestic users.
The minister consequently advocated greater investment in local data infrastructure, technical expertise, cybersecurity and predictable regulations to enable Nigerian businesses to capture more value from the digital economy.
He clarified that digital sovereignty should not translate into technological isolation but should strengthen Nigeria’s capacity to participate competitively in international markets.
Addressing graduating students, Oyedele urged young Nigerians to become developers of technological solutions rather than remain primarily consumers of products created elsewhere.
He identified artificial intelligence as both a disruptive force and an opportunity for innovation, advising graduates to acquire relevant digital skills alongside critical thinking, creativity, sound judgement and integrity.
The minister also cautioned against irresponsible online behaviour, explaining that digital footprints increasingly influence employment prospects, commercial relationships and professional credibility.
Oyedele outlined five priorities for graduates, including continuous learning, value creation, integrity, responsible digital citizenship and active participation in national development.
“Your degree is evidence of what you have learned. Your competence will demonstrate what you can do. Your character will reveal who you truly are,” he told the graduating students.
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