An analysis of the procurement reforms act as a tool for cost savings and accountability in nnpc

Thesis Abstract

Abstract
The Nigerian National Petroleum Corporation (NNPC) plays a vital role in the country's economy as the state-owned oil corporation responsible for the exploration, production, and marketing of petroleum resources. Over the years, the NNPC has faced numerous challenges, including issues of inefficiency, corruption, and lack of transparency in its procurement processes. In response to these challenges, the Nigerian government enacted the Public Procurement Act in 2007 to promote transparency, accountability, and efficiency in public procurement. This research project focuses on analyzing the impact of the Procurement Reforms Act as a tool for cost savings and accountability within the NNPC. The study aims to assess how the implementation of the Act has influenced the procurement practices of the NNPC, particularly in terms of achieving cost savings and promoting accountability. By examining the procurement processes before and after the implementation of the Act, this research seeks to identify the key changes, challenges, and benefits associated with the Act in the context of the NNPC. The methodology employed in this research includes a combination of qualitative and quantitative approaches. Data will be collected through document analysis, interviews with key stakeholders within the NNPC, and surveys of procurement professionals. The analysis will focus on comparing procurement practices, costs, and accountability measures pre and post-implementation of the Procurement Reforms Act. The findings of this study are expected to provide valuable insights into the effectiveness of the Procurement Reforms Act in enhancing cost savings and accountability within the NNPC. By evaluating the impact of the Act on procurement processes, this research will contribute to the existing literature on public procurement reforms in Nigeria and provide recommendations for improving procurement practices within the NNPC. Overall, this research project aims to contribute to the ongoing discourse on procurement reforms in Nigeria and shed light on the role of the Procurement Reforms Act in promoting transparency, efficiency, and accountability within the NNPC. Through a comprehensive analysis of the Act's implementation and its impact on cost savings and accountability, this study seeks to provide practical recommendations for enhancing procurement practices within the NNPC and similar public institutions in Nigeria.