NEWS
Report Accuses National Assembly and Agencies of Corruption and Lack of Transparency A Trade Estimate Report of the United States has accused the National Assembly and Agencies of abusing procurement processes and lack of regard for transparency. In the said report, U.S. companies have expressed "concerns about corruption and a lack of transparency in procurement processes in Nigeria." The report further stated: "The Public Procurement Act of 2007 established the Bureau of Public Procurement (BPP) as the regulatory authority responsible for the monitoring and oversight of public procurement in Nigeria." "Only majority Nigerian-owned companies may bid on procurements above ₦2.5 million (approximately $1,600), up to ₦100 million (approximately $64,000) for goods, and up to ₦1 billion (approximately $640,000) for services and works." The report noted that Agencies in Nigeria do not consistently adhere to the standards set by the Bureau of Public P...