MANAGEMENT OF PROCUREMENT RISKS IN FEDERAL INLAND REVENUE SERVICE BUILDING CONSTRUCTION PROJECTS IN NIGERIA
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- Recommended for : Student Researchers
- NGN 3000
ABSTRACT
Procurement in most developing economies is seen and treated as a ‘back-office’ function, this have confronted government procuring entities with the issues of effective procuring projects within the meagre budget of the government. This subject public building projects to series of procurement risks in the form of fraud, lack of transparency, competitiveness, cost effectiveness and professionalism in the execution of procurement function. Thus, this study examined the management of procurement risks in FIRS building construction projects in Nigeria. The study utilised questionnaires, which were randomly distributed to clients, procurement officers, contractors and consultants. With a response rate of 78.256%, the gathered data were analysed using percentile, mean item score (MIS) and relative importance index (RII). The study found that the major procurement related risks in FIRS building projects are; Kick back (contractor given out money to procurement officials), Lack of cost effective tenders among the bidders, Shadow vendors (submission of inflated invoices for work not delivered), Changes in the bids made after their formal receipt, and Suspicion about conflict of interest. Kick back (contractor given out money to procurement officials), Conspiracy amongst bidders to reduce competition, In-house information leakages to bidders, Shadow vendors (submission of inflated invoices for work not delivered), and Eligibility envelopes received beyond the deadline set for submission; are the prominent procurement related risks that impact on the cost, time, quality and the parties involved in FIRS projects. Also, the most important procurement risk mitigation strategies for FIRS building projects are; Eliminating the cause of the risk, reducing the scope of the contract, adding resources or time to the contract, avoiding contractor with unproven track record, and Using a proven approach instead of a new one. It is recommended that a system of checks and balances is put in place in FIRS building project to forestall the inherent corruption going on. Also, contractors and consultants with integrity should be engaged in FIRS projects
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