Business
Over 300,000 Firms Doing Business With FG – BPP
The Bureau of Public
Procurement (BPP) has said that over 300,000 companies were currently providing services for the Federal Government in the country.
This was announced in Abuja by the Bureau’s Head, Public Relations, Mr Thomas Odemwingie in an interview with our correspondent said that the bureau had decided to compile a national data base of contractors, consultants and service providers to ensure transparency in procurement processes in the country.
He said that from the data base, contractors would be classified based on similar competencies, thereby ensuring fair competition and improving expertise in procurement processes.
“The Bureau has developed and deployed an electronic system for the registration, verification and categorisation of contractors, consultants and service providers.
“The Bureau emphasises the need for all contractors, consultants and service providers to register.
“The central registration has the benefit of eliminating multiple registrations with different procuring entities of the Federal Government,” he said.
Odemwingie said out of the estimated 300,000 Federal Government contractors, consultants and service providers, only 4,674 companies had registered so far with the bureau.
“The repercussion for not registering on the database of the BPP is that such contractor; consultant and service provider will not be able to participate in subsequent Federal Government procurement.
“A circular has already been issued by the SGF to all procuring entity of Federal Government to include evidence of registration on the national database as a requirement in all procurement solicitations.
According to Odemwingie, the bureau encourages all contractors that want to continue doing business with government to register.
“There is no immediate deadline for registration.”
“Payment of tuition fees for undergraduate/postgraduate studies shall be subject to a maximum limit of $25,000.00 per semester,” the Manual states.
The expansion of international card limits also reflects growing confidence among lenders that foreign exchange liquidity has improved enough to support retail dollar transactions.
Speaking recently at the BusinessDay 14th Annual CEO Forum in Lagos, CBN Olayemi Cardoso, governor of the CBN said buying and selling activities now increasingly determine outcomes in the foreign exchange market, unlike in the past when market participants relied heavily on routine Central Bank interventions.
According to Cardoso, Nigeria’s net foreign exchange reserves have risen from just over $3 billion at the start of the reform programme to more than $40 billion, while gross reserves have climbed to about $52 billion, providing stronger confidence for investors and enabling the Central Bank to reserve interventions for periods of market stress rather than day-to-day liquidity management.
The restoration and expansion of international naira card spending limits are increasingly being seen as one of the clearest signs that the benefits of the CBN’s foreign exchange reforms are beginning to reach households, students and businesses making legitimate cross-border payments.
The Secretary-General and Chief Executive Officer, WEC, Dr Angela Wilkinson, disclosed this in a statement, last Thursday.
“Nigeria’s participation comes at a pivotal time as the country seeks to expand energy access, strengthen energy security, accelerate gas development and mobilise the capital required for industrialisation and sustainable economic growth.
“WEC Nigeria will convene leaders from across the energy ecosystem, apply the WEC’s globally recognised Energy Trilemma framework to Nigeria’s unique context, and promote evidence-based dialogue, practical collaboration and informed policymaking.
“It will also ensure that Nigerian and broader African perspectives contribute meaningfully to global energy conversations,” she said.
Wilkinson expressed confidence that Nigeria would play a significant leadership role at the World Energy Congress scheduled for Riyadh in April 2027 and beyond.
The statement also quoted the Chairman of WEC Nigeria, Isa, as describing the country’s participation as an opportunity to deepen national and African leadership within the global energy community through practical solutions tailored to regional development priorities.
He said the platform would promote collaboration across sectors and attract sustainable investments into Nigeria’s energy sector.
The Chief Executive Officer of WEC Nigeria, Wunti, was quoted in the statement as saying that the council would connect leadership, evidence and investment to build a secure, affordable and sustainable energy system.
“This system will be capable of driving economic growth and shared prosperity.”
According to him, the platform will also connect Nigerian institutions and businesses with international knowledge, technology, partnerships and investment opportunities through the World Energy Council’s global network.
Recall that WEC, founded in 1923, is the world’s oldest independent and impartial community of energy leaders and practitioners, advancing informed, collaborative and practical action across the global energy system.