so i was reading a thread on the Paris refund delay, then at the end of the news i saw something that grabbed my attention

600 Bullet proof vests for 187M naira, out of curiosity i decided to do a little research into why the value was so large for a small number of vests

Minister of Finance, Zainab Ahmed, disclosed this while briefing State House Correspondents at the end of the FEC meeting.

“Mr. President has given approval for the payment of the last Paris Club refund to the states but the approval came with some conditions which we are trying to work out together with the states to meet.

“Those conditions that Mr. President gave are that we must show that the states have used the previous refund for payment of salaries and they will use this one also for payment of salaries,” she said.

On entitlements of Ex-Staff of the Nigeria Airways, she said the approval granted was for N45bn and explained why N22.6bn was released.

“The approval given for payment of entitlements to the ex-staff of Nigeria Airways was N45bn and because of paucity of funds, Mr. President gave approval for the payment of 50 percent of N22.6bn. We hope in 2019, to pay the balance,” she said.

She also said the council has approved N187.4m for the purchase of 600 bulletproof vests for the Nigeria Customs Service (NCS) to fight illegal importation of rice. She said the contract has eight months delivery period.

https://www.nairaland.com/4794918/why-paris-club-refund-being

https://www.dailytrust.com.ng/why-paris-club-refund-is-being-delayed-fg.html

https://www.alibaba.com/product-detail/Bulletproof-clothing-woven-kevlar-full-body_878865227.html?spm=a2700.7724838.2017115.1.50445c50E2KeXM

from what i found one Bullet proof vest cost 120$ and with Shipping maximum of 30$ each thereby pegging the value of each vest at 150$ Max

600 vests would cost 90k USD at 150usd each

90KUSD = 32.4M naira

the Total sum for the contract when converted to Dollars is 519,000 USD

it would cost at 865$ per vest to arrive at this figure
Was a contract of 33 to 35M naira inflated to 187M naira before our very eyes
that is left for you to find out


this is just a tip of the ice berg of the ongoing looting under this current admin

cc

lalasticlala

O setigo

It's a thread

Wonderful things are happening in this administration

The eight wonder of the world for me is not even the fact that we elected Buhari, despite all the warnings.. (I preached him like religion in 2015), but is the fact that some people are still clamouring for him to continue.

God forbid

Even if Atiku/Obi doesn't get it right, we'll vote them out too. We can do it now, Thanks to GEJ

Off course we all know buharis government is the worst and most corrupt ever

So this isn't news

This is kwarupshan on astronomical level. Though I know there's a 30% mark-up courtesy of some BPP rules but this is much na. Like 400% increment. Anyway this is Nigeria and even the APC president is a ...............

this is the worst government in the history of mankind
it shall never be well all those supporting this government


cc
cilicmarin ngeneukwenu
sarrki
midolian
seunmsg
madridguy
passingshot
deomelo
Butterflyle0

pacino26:
This is kwarupshan on astronomical level. Though I know there's a 30% mark-up courtesy of some BPP rules but this is much na. Like 400% increment. Anyway this is Nigeria and even the APC president is a ...............

400%? Bros, that thing is amost 600% increase

Una neva see anything... If dis is their definition of integrity, I wonder what would happen wen dey define corruption.. Watch zombies either come here to defend and tell U how dey are going to b customised and of d best quality or completely avoid d thread outrightly

APC = Government of corruption, for the corrupt, and by the corrupt.


These looters want us to keep them in office so they can auction off Nigeria.

We say to further destruction of the nation.

I am Atikulating to rescue Nigeria.

APC = party of corruption...
one day Yorubas will regret ever supporting this lunatic.

Good job brother.

This is not an APC thing. We've been padding contracts since 1914. The people we refer to as old money, are beneficiaries of padded contracts to the tune of millions when the value of the Naira was (almost) on par with the US Dollar

Mr Integrity uses tax payers 80million naira to cut his hair and by the way, theirs a kickback of 25% to the minister in charge of awarding that contract. Ask another APC saint called Ganduje...
If you know, you know

i will like to get the full details of the contract. I don't like to draw conclusion from preliminary information.

"How are you going to sort out the 13 million out of school children?" - "We are figthing corruption."
"How are you going to upgrade the hospitals?" - "We are figthing corruption."
"How are you going to improve the economy to realise GDP of 5-7%?" - "We will fight corruption."
"How are you going to create jobs?" - "We will fight corruption."
"When are you going to reform the police?" - "Fight corruption."
"When are you going to sort out the killings across the middle belt?" - We will fight corruption first."
"Electricity?" - "Anti- corruption."

Buhari ohhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhh

Still on APC fighting corruption?

Shookonekilla:
Off course we all know buharis government is the worst and most corrupt ever

So this isn't news

Lalasticlala

Mods oh

You lots are funny.
Why do you all think Buhari and APC are desperate to retain power at all costs?
Its simply because him and his cronies know that if he loses and the next government probes them,the revelations would leave people in trauma.
Not just in corrupt practices but the heinous acts and plans against the Nigerian state and people.

This is terrible.

We need a SNC.

MeanChris:
O setigo

It's a thread

Yea

But mods dey hideam

Chaiiiiiii

This thread should be moved to frontpage, let's discuss this issue. We need accountability from our officers.

fergie001:
Chaiiiiiii

Ganduje dey learn work

rozayx5:






Ganduje dey learn work

Wawu

Cc lalasticlala

I'm sure you will not rely on China Bulletproof vest for your safety.

I'm just wondering why you will use China standard as a reference.

I think you will do well to find average between highest cost and lowest cost and factor in a reasonable profit margin for the contractor.

You may check this site out and compare price of bulletproof relative to China spec product you posted.

http://www.bulletblocker.com/bullet-proof-vests-and-body-armor.html

Buhari and his stu.pid paper integrity.

Ba damuwa (no problems)
Za mu chi buro urban shi shekara mai zuwa a gaba (we'd deal with him next year)

greatcrown:
I'm sure you will not rely on China Bulletproof vest for your safety.

I'm just wondering why you will use China standard as a reference.

I think you will do well to find average between highest cost and lowest cost and factor in a reasonable profit margin for the contractor.

You may check this site out and compare price of bulletproof relative to China spec product you posted.

http://www.bulletblocker.com/bullet-proof-vests-and-body-armor.html

Ok let's be reasonable and say they went for the ones of $600 (which is highlyyyy unlikely) let's say the whole cost is $700 per unit.

700 x 600 x 361 = #151.62m

Deficit: 187 -- 151.62 = #36m. This one na jara money abi??

This administration is doing wonders

And going for the ones of $600 is highly unlikely. This is Nigeria!

Hmmm

They loot our treasury via contract and procurement People still believe that Buhari is fighting corruption. Mitcheww

rozayx5:
so i was reading a thread on the Paris refund delay, then at the end of the news i saw something that grabbed my attention

600 Bullet proof vests for 187M naira, out of curiosity i decided to do a little research into why the value was so large for a small number of vests


from what i found one Bullet proof vest cost 120$ and with Shipping maximum of 30$ each thereby pegging the value of each vest at 150$ Max

600 vests would cost 90k USD at 150usd each

90KUSD = 32.4M naira

the Total sum for the contract when converted to Dollars is 519,000 USD

it would cost at 865$ per vest to arrive at this figure
Was a contract of 33 to 35M naira inflated to 187M naira before our very eyes
that is left for you to find out


this is just a tip of the ice berg of the ongoing looting under this current admin

cc

lalasticlala

How I wish you will take this to US embassy Nigeria Facebook page for them to take note. They think they know Nigeria well