President Bola Ahmed Tinubu has approved a sweeping overhaul of public procurement thresholds for MDAs of the Federal Government.

NEW CONTRACT APPROVAL THRESHOLD, The Federal Executive Council:
Approves contracts from ₦5 billion (goods/services) or ₦10 billion (works) and above.
Ministerial Tenders Board:
Goods/Services: ₦50 million to < ₦1 billion
Works: ₦50 million to < ₦2.5 billion
Parastatal Tenders Board:
Goods/Services: Up to ₦500 million
Works: Up to ₦1 billion
Accounting Officers:
Goods/Services: Below ₦50 million
Works: Below ₦100 million
Procurement METHODS BY THRESHOLD
– National/International Competitive Bidding:
Goods/Services: ₦1 billion and above
Works: ₦5 billion and above
– Requests for Quotations (Shopping): For lower-value procurements.
– Prequalification Requirements
Goods/Services (Non-consulting): From ₦500 million
Works: From ₦1 billion
Consultancy: Use QCBS for contracts ₦100 million and above
– MDAs must publish monthly procurement reports on their websites and the BPP portal, including all awarded contracts for transparency and accountability.
– MDAs must budget for procurement training using only BPP-accredited trainers.
NIGERIA FIRST POLICY
– Prioritizes local goods and contractors in all federal procurements.
This decentralization is designed to allow the FEC to focus on high-level national policy issues rather than routine contract approvals.