Business

BPP Saves FG N1.1trn Public Sector Procurements

While speaking on beneficial ownership, the BPP DG harped on the need to ensure transparency and to, among others, weed out those he called same and multiple bidders.

Published

8 months ago

March 5, 2026

OCHEFA

Screenshot 2026 03 05 20 10 37 24 0b2fce7a16bf2b728d6ffa28c8d60efb

416 Views

Photo: Director -General of BPP, Dr. Adebowale Adedokun, during a courtesy call on the Registrar-General/CEO of Corporate Affairs Commission (CAC), Hussaini Ishaq Magaji, March 5, 2026.

The Bureau of Public Procurement (BPP) revealed that in the last 12 months, it saved 1.1 trillion for the government in view of its implementation of a robust price intelligence mechanisms.

The Director General of the BPP, Dr. Adebowale Adedokun, disclosed this today during a courtesy call on the Registrar-General/CEO of Corporate Affairs Commission (CAC), Hussaini Ishaq Magaji, to strengthen collaboration in order to support the present administration’s agenda for a trillion-dollar economy.

Dr. Adebowale recalled the long-standing collaboration between the two agencies which dates back to 2008 and therefore applauded the reforms being implemented by the Commission.

Adebowale remarked that the two agencies have a critical role to play in the efforts being made to realize a trillion dollar economy.

While speaking on beneficial ownership, the BPP DG harped on the need to ensure transparency and to, among others, weed out those he called same and multiple bidders.

While highlighting BPP’s reforms, Adebowale stressed the need for robust enforcement measures to ensure compliance and accountability by professional bodies whose executives often overstay their tenure of office in contravention of the code of corporate governance.

In his remarks, the Registrar-General highlighted CAC’s reform initiatives which are in tandem with President Bola Ahmed Tinubu’s renewed hope agenda, especially Item 7 that harps on digitization and innovation.

The CAC boss, who enjoined the BPP to utilize the Commission’s globally acclaimed Beneficial Ownership Register to enhance their operations, also asked for collaboration on capacity development between the two agencies.

Related Topics:BPP and CAC partnership Bureau of Public Procurements Featured

Up Next

Middle East War: Dangote Refinery Cushions Global Oil Costs By 20% For Nigerian Market

Don't Miss

TMBC Business Publisher says MPC rate cut is timely, appropriate MPC

Click to comment

Business

Naira Exchange Rates Thursday, 5 Nov 2026

Published

10 hours ago

November 5, 2026

OCHEFA

63 Views

BLACK/ PARALLEL MARKET RATES

₦1400DOLLAR (USD)

₦1830POUND (GBP)

₦1515 EURO (EUR)

₦950 CANADIAN DOLLAR (CAD)

₦70 SOUTH AFRICAN RAND (ZAR)

₦350 UAE DIRHAM (AED

₦190 Chinese YUAN (CNY)

₦100 Ghanaian CEDI (GHS)

West African CFA ₦2240 (XOF)

Central African CFA ₦2180 (XAF)

₦820 Australian Dollar AUSSIE (AUD)

Business

NNPCL wants to sell 10% equity via IPO on NGX, LSE

NNPC is expected to spend at least the whole of 2027 preparing for the proposed offering, with the listing primarily intended to strengthen corporate transparency and governance in line with Nigerian law.

Published

2 days ago

November 4, 2026

OCHEFA

113 Views

The Nigerian National Petroleum Company Limited (NNPC Ltd.) is considering selling between 5% and 10% of its equity through a potential initial public offering (IPO), with the proposed listing expected to focus primarily on Nigeria’s domestic capital market.

The Group Chief Executive Officer of NNPC Ltd., Bashir Bayo Ojulari, disclosed this in an interview with Reuters on Tuesday, November 3, 2026, adding that the company could also pursue a secondary listing in London or New York.

The disclosure comes shortly after the Dangote Petroleum Refinery’s IPO closed on October 27, following a two-week extension of its subscription period from the initial October 13 deadline.

Ojulari indicated that raising additional capital would be a secondary consideration rather than the main reason for going public.

The company is also considering listing some of its subsidiaries separately, following a model adopted by Abu Dhabi National Oil Company (ADNOC), the United Arab Emirates’ state-owned oil company.

Beyond the potential IPO, Ojulari disclosed that Chinese companies have expressed interest in acquiring equity stakes in some of NNPC’s smaller refineries, particularly the Port Harcourt and Warri facilities, which require substantial rehabilitation.