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| Nigerian Government Faces Corruption Charges in US Report |
The report comes from the latest Trade Estimate Report. This annual report details the challenges US firms face. It shows that the Assembly is not under the control of the Public Procurement agency. This lack of oversight opens doors to fraud.
The report says that many agencies do not follow the rules. The Public Procurement Act of 2007 created a bureau to guide how bids must be made. This bureau puts rules on who can bid and when they can bid. The Act sets clear monetary limits. For bids above ₦2.5 million, only Nigerian-led companies may start. For larger sums, both local and foreign companies can bid. But agencies often skip the rules. They start work before funds are confirmed. They also do not get the needed certificate that funds are ready.
US firms have won some contracts, yet they still suffer from late payments. The report warns that payment delays hurt business confidence. It also shows that foreign-backed loans sometimes help secure deals. This may mask hidden deals. The data makes it clear that a lack of transparency is at the heart of the problem.
The Public Procurement Act of 2007 was meant to cut fraud. It created the Bureau of Public Procurement (BPP) to act as a watchdog. The BPP publishes rules and bid data on its website. This move has helped some agencies work by the law. However, the National Assembly works on its own system. This system does not undergo BPP checks. Experts say that this gap invites fraud.
A recent statement by a top EFCC officer said that contract fraud is a major part of public corruption. In one meeting, the officer said that fraud in contracts makes up nearly 90 percent of the fraud in the public sector. He urged all to work together to fix the system.
Local and international experts call on the government to boost checks. They say that strong and clear rules can cut back on deceit. One expert notes, “If our bid rules are clear and all rules are followed, we can restore trust in spending.” Another observer points out that a lack of funds checks can lead to wasted money on poor projects. They agree that all agencies must act by the BPP guidelines. This would help build trust and attract more investors.
Analysts warn that transparent bidding is key to growth. The report shows that when agencies do not follow the law, funds leak away. This loss hurts public services like schools and roads. Experts say that better control would make the country stronger.
The US report does more than list faults. It shows the cost of weak checks. Fraud in bids has slowed down many projects. This leads to slow growth in infrastructure and other vital services. Investors may hold back if rules are not clear. This, in turn, hurts the everyday life of Nigerians.
Both government and civil groups are asked to join hands. The report and expert voices urge reform. They ask for strict rule enforcement. When agencies follow simple rules, it restores trust. US firms can then pay on time and bids can be fair.
Leaders must end the use of secret deals. They must make all dealings open. This will help build a stable future. Small changes in oversight can lead to big wins in growth. The message is clear: a strong, clear system of checks and balances is needed.
This US report brings home the high cost of fraud in Nigeria’s public spending. The Assembly works outside the set rules. Its process lacks transparency. As a result, many contracts face delays and corruption. Reform is needed to fix these gaps.
The nation stands at a crossroads. By following the proper checks, Nigeria can curb fraud. This change will boost trust from local and foreign investors. It will also bring better projects to Nigerian communities. Constructive debate and firm action can help leave the country in a stronger state.