Nigeria’s Finance Minister Kemi AdeosunThe Bureau of Public Procurement (BPP) saved the nation N32 billion through its review of contracts for capital projects, its 2016 annual report says.

The report was obtained from the bureau by the News Agency of Nigeria (NAN) on Tuesday in Abuja.

According to the report, the savings are from the review of contracts awarded to various Ministries, Departments and Agencies (MDAs).

It said N2.71 trillion was requested for projects by 23 MDAs while N2.68 trillion was certified and approved.

Of the savings made, the highest amount of N22.4 billion was recorded from the Ministry of Power.

The money was saved from an initial request of N1.929 trillion, indicating that N1.907 trllion was awarded for projects for the ministry.

It also saved N5.7 billion from the Office of the Secretary to the Government of the Federation (SGF) from an initial request of N32.3 billion, indicating that N26.6 billion was awarded for its projects.

The BPP also saved N1.39 billion for projects from the Ministry of Petroleum from an initial request of N19 billion, giving approval of N18.6 billion.

For the Ministry of Transport, it saved N818.7 million from a request of N555.3 billion, approving N554.5 billion for its capital projects.

About N72 million was also saved from the Central Bank of Nigeria (CBN) from an initial request of N6 billion.

No savings were made from the Ministry of Science and Technology; Youths and Sports; Communication Technology and the Economic and Financial Crimes Commission (EFCC) as they all got what they requested for.

Science and Technology requested for and was awarded contracts worth N580 million; Youth and Sports, N1.1 billion; Communication Technology, N101.1 billion and EFCC N311 million.

The report stated that BPP received 374 complaints from petitioners in 2016 and was able to close 260 while investigations were still ongoing for 114 of them.

It said the petitions were treated to achieve value for money to the Federal Government by ensuring full compliance with the Public Procurement Act (PPA) 2007.

It also issued 227 certificates of “No Objection’’ to MDAs at the values stated.

The BPP was established in 2007 to ensure transparency, competition and quality in the nation’s public sector procurement process. (NAN)