PUBLIC PROCUREMENT, TRANSPARENCY AND ACCOUNTABILITY IN NIGERIA: DISSECTING THE BENEFITS AND CHALLENGES TO ANTI-CORRUPTION WAR

IGWE, Nick Ngozi and Ude, Anthony Obiora and Chukwu, Christian Uchenna (2021) PUBLIC PROCUREMENT, TRANSPARENCY AND ACCOUNTABILITY IN NIGERIA: DISSECTING THE BENEFITS AND CHALLENGES TO ANTI-CORRUPTION WAR. International Journal of Economics, Commerce and Management, IX (1). pp. 306-323. ISSN 2348 0386

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Abstract

Public contracting is an integral part of the public financial management cycle which has become a major platform used in the execution of development projects in Nigeria. Public contracts generate revenues through the issuance of licenses to operate quasi-public services, concession for the extraction of natural resources and sale of public property through privatization. This paper seeks to explore the issues around public procurement, transparency and accountability in Nigeria. It exposes the benefits of enthroning transparency and accountability in public procurement system while pointing out the debilitating challenges that are inimical to its effective execution. The paper adopts the methodology of documentary analysis of current literature on public procurement, transparency and accountability with relative information from other climes. It concludes that an open and transparent public procurement process would lead to surmounting the much hydra-headed challenges facing the nation from realization of development projects objectives in such a manner that would lead to best value-for-money budgeted. The paper recommends among other things that major stakeholders and institutions involve in public procurement should be patriotic enough to create a level playing field for all participants. After all, a transparent and an accountable public procurement management is a reflection of the quality of governance and development of an effective egalitarian state.

Item Type: Article
Subjects: H Social Sciences > H Social Sciences (General)
Divisions: Faculty of Management and Social Sciences
Depositing User: mrs chioma hannah
Date Deposited: 16 Feb 2021 13:14
Last Modified: 16 Feb 2021 13:14
URI: http://eprints.gouni.edu.ng/id/eprint/2971

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