Govt Revises Procurement Thresholds to Boost Oversight, Efficiency

The Bureau of Public Procurement (BPP) has announced new thresholds for government purchases, signaling a strategic shift aimed at tightening oversight and improving transparency in public spending.

Effective immediately, the revised thresholds are expected to reflect current economic realities and will undergo periodic reviews to remain responsive to inflationary pressures and fiscal dynamics.

Director-General of the BPP, who disclosed this development, emphasized that the updated thresholds empower the agency to prioritize its broader mandate.

“With the approval of these revised thresholds, the bureau is now positioned to focus on other critical regulatory functions such as procurement audits, surveillance, and professionalisation of the procurement cadre,” he said.

In a move to further bolster integrity in public procurement, the BPP plans to deepen collaboration with anti-corruption bodies across the country.

READ ALSO: Tinubu: We Removed FCT from TSA to Accelerate Development

This partnership is aimed at reinforcing transparency and ensuring that ministries, departments, and agencies (MDAs) comply strictly with procurement regulations.

The revision of thresholds is a key regulatory tool that determines the financial limits within which MDAs can procure goods and services without seeking higher-level approvals.

With these changes, the government hopes to strike a balance between efficiency and accountability in public procurement processes.

The BPP reiterated its commitment to continuous reform in line with international best practices, promising stakeholders that all future adjustments will be driven by data, audit outcomes, and national development priorities.

Leave a Reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.