The Director-General of the Bureau of Public Procurement (BPP), Dr Adebowale Adedokun, has urged insurance companies not to provide cover for any government vehicle that is not assembled in Nigeria.
He made the call on Monday during the signing of a Memorandum of Understanding (MoU) between the BPP and the National Insurance Commission (NAICOM).
Adedokun said that for Nigeria’s economy to grow sustainably, the insurance sector must remain strong, well-regulated and widely patronised.
What they are saying
The BPP chief explained that the directive aligns with the “Nigeria First” policy of President Bola Tinubu’s administration.
- “We need this message to be sent to all insurance companies that they cannot insure any vehicle that has not been assembled in this country,” he said.
He called for collaboration from NAICOM to circulate the directive across the sector and warned that unethical practices would not be tolerated.
- “Everybody in this sector that you regulate must comply with good governance, must comply with code of conduct and must comply with good ethical practices,” Adedokun added.
A joint working group comprising officials from both agencies has been set up to strengthen the insurance procurement process.
Get up to speed
The BPP regulates and supervises public procurement processes in Nigeria to ensure transparency, accountability and efficiency in government spending.
Last month, Adedokun disclosed that procurement reforms helped the Federal Government save over N1.1 trillion between January and December 2025.
The bureau also reported faster contract approval timelines and stricter sanctions for erring contractors and non-compliant officials.
More insights
Adedokun said the bureau would leverage NAICOM’s data bank and technical expertise to address gaps in insurance procurement and improve value for money.
- “We realise that a lot of insurance companies need to be updated in their knowledge of how procurement is being carried out,” he said.
Also speaking, the Commissioner for Insurance, Mr Olusegun Omosehin, assured the BPP that licensed insurers would honour their obligations.
- “Provided we issue the licence and approve the process, we guarantee that no insurance entity will give bond or protection and fail to honour its obligation,” Omosehin said.
He noted that the collaboration aims to standardise insurance requirements in public procurement and enhance transparency across the sector.
What you should know
Chairman of the Senate Committee on Public Procurement, Mr Olajide Ipinsagba (Ondo North), recently reaffirmed legislative support for the bureau’s mandate.
He emphasized the importance of accountability and prudent management of public funds in driving socio-economic development.
