THE PROCUREMENT PRACTICE IN THE PUBLIC SECTOR ECONOMY: PROBLEM AND ISSUES

THE PROCUREMENT PRACTICE IN THE PUBLIC SECTOR ECONOMY: PROBLEM AND ISSUES

Abstract

This research work is set to determine the impact of Procurement practices in the execution of capital projects, the relationship between budgetary appropriation and actual funding, also the relationship between saving benefits and total capital expenditure.  To identify the problems and issues. Tools of data collection used were structured closed and open –ended questionnaires as well as interviews for the respondents who had been involved in the process including survey of related literature on public procurement. In the course of testing the three hypotheses, we applied chi-square. Chi-square was used to test the impact of public procurement in the execution of capital projects and Pearson’s correlation coefficient technique was applied to test the relationship between budgetary appropriation and actual funding in the implementation of procurement practices. The result of the findings reveals that Procurement practices had made significant impact on the execution of capital projects in public sector of the economy in Nigeria. The study showed that Procurement practices being a new initiative had made a significant impact in the public sector system which has helped in saving public funds by corrupt practices that usually characterized Public procurement. The study recommended that Procurement management should shorten bureaucracies in the approval process, timeliness of procurement certification, speedy passage of annual Budget, prompt payment of completed contract, enforcement of appropriate rules and attitudinal change.

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