The Tinubu Media Volunteers (TMV) has commended the Federal Government’s new policy on contract variation across Ministries, Departments and Agencies (MDAs), describing it as a major step towards strengthening transparency, accountability and cost control in public procurement.
Under the new policy, contract variations and augmentations will be centralized under the supervision of the Bureau of Public Procurement (BPP), which will serve as a clearing house for all proposed adjustments before they are forwarded to relevant approving authorities, including the Federal Executive Council (FEC), Ministerial Tenders Boards, the National Assembly and the National Judicial Council.
In a statement signed by its Chairman, Chukwudi Enekwechi, and Secretary, Segun Ogedengbe, the group noted that the revised guidelines supersede the 2013 policy, which required presidential approval for contract variations exceeding 15 per cent of an initial contract value of one billion naira.
According to TMV, the new framework, derived from Section 5(a) and (o) of the Public Procurement Act 2007, introduces clearer approval thresholds for contract variations and mandates the use of final project designs before execution.
The group explained that under the guidelines, variations valued at ten billion naira and above will require approval from the Federal Executive Council, National Judicial Council or the National Assembly Tenders Board, depending on the institution involved.
The statement added that variations ranging from five billion naira to below ten billion naira will be handled by Ministerial Tenders Boards, while those between seventy five million naira and five billion naira will be approved by Parastatal or Judicial Tenders Boards.
TMV also welcomed the provision requiring a Bureau of Public Procurement Certificate of No Objection before any variation or fluctuation claim can be presented to an approving authority.
The group said the policy would help eliminate loopholes in contract administration, improve oversight, reduce waste and restore public confidence in the procurement process.
TMV further applauded the administration of President Bola Tinubu for implementing the policy, describing it as a demonstration of the government’s commitment to good governance and prudent management of public resources.
