Bureau of Public Procurement in Nigeria and price adjustment procedures in project construction

Abstract

Nigeria is perhaps the largest economy in sub-Sahara West Africa through public procurement of goods, works and services in relatively risky environment of inflation and corruption, challenging the value for money in project execution under the watch of the Bureau of public procurement. The purpose of this paper is to establish the preparedness of the BPP to handle the problem of price adjustment in procurement, with rising inflationary figures in Nigeria. To achieve the objective, the researchers made use of secondary data, and employed the method of survey with content analysis. The Decision theory offered by Simon (1947) underpins the study in response to the fact that current literature has not sufficiently discussed public procurement as a decision making problem. It was found that procurement decision generally is made under tensed condition, yet with a goal to provide value for money. It is concluded that the BPP may be overwhelmed with price adjustment policy and overall political climate in Nigeria. It was recommended that the Bureau should be fully prepared with more powers and frequent training to be able to do price adjustment in accordance with regulations and that the use of direct labour should be encouraged where the Accounting officer has certified knowledge and proven experience