ABUJA, Nigeria (CHATNEWSTV) — Nigeria lost an estimated $200 billion to corruption and procurement irregularities between 1970 and 2008, according to a report by the MacArthur Foundation. The funds were siphoned into private pockets through mechanisms such as contract inflation, direct theft, and improper asset disposals.
Amina Salihu, Deputy Director of MacArthur Foundation Nigeria, revealed the findings during a town hall in Abuja aimed at addressing public procurement challenges. The event, titled “Tackling Procurement Fraud and its Far-Reaching Consequences: A Collective Responsibility,” was organized by Accountability Lab Nigeria, in partnership with the Public and Private Development Centre (PPDC), the United Nations Office on Drugs and Crime (UNODC), and supported by the MacArthur Foundation.
Salihu emphasized the need for transparency, competition, and integrity in procurement processes. “From 1970 to 2008, over $200 billion was lost in Nigeria through procurement fraud, contract inflation, and improper disposals of assets,” she said. “These resources were hidden, misused, or stolen.”
She called for stronger regulation and oversight to curb corruption and ensure the efficient allocation of public resources. Salihu stressed the importance of collaboration between government bodies, civil society, and the private sector in promoting transparency and accountability.
Accountability Lab Country Director Friday Odeh lamented the lack of accountability in Nigeria’s public service, contributing to rampant abuse of procurement processes and significant financial losses. “We have a situation where public resources are misused, and taxpayers are left to bear the consequences,” Odeh said.
UNODC Representative Maximilian Menhard underscored the importance of raising awareness about procurement fraud and committing to integrity in public procurement. He urged the government and other stakeholders to take concrete actions to address the issue.
Lucy Abagi, CEO of PPDC, presented findings from a recent report showing that more than 56% of Freedom of Information (FOI) requests for procurement information were not answered. “This highlights the challenges citizens face in accessing critical data, which is necessary for holding officials accountable,” Abagi said.
The town hall brought together government officials, civil society organizations, private sector representatives, and international partners to discuss solutions to the pressing issue of procurement fraud in Nigeria.
