Tinubu approves new contract thresholds for MDAs

…As contracts above N10 for works, N5 b for consultancy go to the FEC

In a decisive and forward-thinking move aligned with his Renewed Hope Agenda, President Bola Tinubu, on Thursday, approved a comprehensive review of public procurement thresholds for Ministries, Departments, and Agencies (MDAs) of the Federal Government.

Zira  Nagga, Head of Public Relations office the Bureau of Public Procurement BPP, said in a statement that the approval which followed recommendations of Adebowale Adedokun, Director General, Bureau of Public Procurement (BPP), will see contracts for works above N10b and N5b for Consultancy Services go to the Federal Executive Council FEC for approva.l

The development marks a significant stride towards improving budget implementation, streamlining procurement processes, and enhancing public service delivery efficiency in Nigeria’s evolving economic landscape.

The new move is also seen helping to strengthen the newly introduced policy of ” Nigeria First”, which was recently approved by the President at the Federal Executive Council, held at the Presidential Villa, Abuja.

Details shortly…