The above items with a contract sum of Thirty-Five Million Four Hundred and Eleven Thousand, Three Hundred and Fifty-One Naira and Thirty-Five Kobo (₦ 35,411,351:35) only were installed at their different positions and locations already therefore, Audit could not ascertain the units/yards supplied by vendor.
3 E’s of monitoring
Economy: The Economy of the project seemed to have been jettisoned as the time value of money was not considered in the procurement of the items i.e., curtain lining, office furniture and equipment. The prices on the quotation prepared in 2020 when the project was initiated had been affected by inflation as at the time when the contract was awarded and executed in 2022.
Efficiency: In the opinion of audit, the efficiency of the aforementioned project could not be ascertained as the maximum outputs could not be achieved within the time frame approved in the letter of Award of Contract due to delay in the release of fund for the project.
Effectiveness: The Effectiveness of the project could not be determined by Audit as a result of;
1.Non procurement of items that worth Twenty-One Million, Two Hundred Thousand Naira (₦ 21,200,000) Only
2.Non-Adherence to specification i.e Computers, Office Equipment, Chandelier etc, which were procured without specifications, while items like LG Television etc, were procured below specifications.
3.For items like curtain, curtain Lining and Day Blind, the units/yards procured by the vendor remain obscured.