THE APPLICATION OF PUBLIC PROCUREMENT PROCESS TO BUDGET IMPLEMENTATION IN NIGERIA

The process of acquisition of goods, services and works project in Nigeria have been criticized by the public in recent years, leading to introduction of due process in the year 200 and the public procurement act in 2007, all aimed at restoring public confidence as well bring out value for public funds being spent. The procurement process has to undergo the procurement cycles, adhere to the principle of competition and the transparency and have a full procurement administration. Budget implementation, in order to ensure that the procurement process is fully utilized should have provision for review, in-year revision, among others. These process is if adequately followed, will yield benefits that includes an established legal and instituted framework, standardization of procedures for procurement in public sectors, promotion of principle competition with a view to obtaining value for money by adopting international best practice in public procurement and award of contracts. If the code of conduct and offences for suppliers among others in the procurement act are properly followed for government procurement during budget implementation, then value for money will be obtained, hence achieve economy, efficiency and effectiveness in public funds management in Nigeria.