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The Impact Of Public Procurement Act On The Procurement Process In Nigeria Public Sector
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1.2 Statement of the Problem
The early oil boom for Nigeria in
1970s saw the country rack in so much money which had led to her
mismanagement of the resources. There have been existing open abuses to
rules and standards in the award and execution of public contracts in
Nigeria. These were evident in over-invoicing, inflation of contract
costs, and proliferation of white-elephant projects and diversion of
public funds through all kinds of manipulation of contract system. The
regulatory bodies that were set up to ensure compliance with laid down
rules and regulations on procurement and award of contracts in the
public sector appeared weak and ineffective. This resulted in a high
level of corruption and enormous wastage of public resources, lack of
transparency, accountability, fairness and openness. The situation made
foreign and even local investors to lose confidence in the Nigerian
economy. It must be noted that the prevailing high level of corruption
was closely linked up with the public sector procurement systems, and
considering that about ten percent of the gross domestic product (GDP)
must pass through the procurement systems. It then became imperative
that the public procurement systems must be reformed if Nigeria must
achieve economic growth and developmental strides in this new
millennium. It is on this premise that this study was undertaken to
examine the impact of public procurement act on the procurement process
in Nigeria public sector.
1.3 Objective of the study
The study aims to achieve the following objectives:
a) To find out if there are existing laws guiding procurement procedures in the public sector.
b) To determine if the laws guiding the public sector procurement process is effective.
c) To examine the impact of the public procurement Act on the procurement process in the public sector.
1.4 Significance of the Study
Public
procurement has everything to do with the public just as its name goes.
Its financing is drawn from the tax payers’ money and the oil revenue.
Thus, it is necessary that oversight functions are not just carried out
alone by those appointed but that the public become aware of what is
happening in the public procurement scene. This is to enhance their
trust in the agency and their representatives. Furthermore, an
understanding of the public Procurement Act and how it works will serve
as a tool to checkmate the excesses of the institution. This is why this
study is marked significant.
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ABSRACT - [ Total Page(s): 1 ]Public procurement is the process by which governments buy inputs for vital public-sector investments. Those investments, both in physical infrastructure and in strengthened institutional and human capacities, lay foundations for national development. The quality, timeliness, suitability and affordability of those procured inputs can largely determine whether the public investments will succeed or fail. The Bureau of Public Procurement has established general policies and guidelines relating to ... Continue reading---
