The Public Procurement Act 2007 established the Bureau of Public Procurement charged with the responsibility to amongst others, provide Legal and institutional framework and Professional Capacity for public procurement in Nigeria.
The objectives of establishing the Bureau of Public Procurement are to;
- Harmonize existing government policies and practices on public procurement to ensure probity, accountability and transparency in the procurement process;
- Establish pricing standards and benchmarks;
- Ensure the application of fair, competitive, transparent, value-for-money standards and practices for the procurement and disposal of public assets;
- Attain transparency, competitiveness, cost effectiveness and professionalism in the public sector procurement system.