Nigeria Needs Technology To Tackle Corruption In Supply, Procurement Process – Nwodo

What are the processes of procurement in Nigeria, and are they transparent?

Procurement processes differ across sectors and companies, but globally recognised processes for goods and service acquisitions should be transparent. While the public sector in Nigeria may not be fully transparent, some multinational corporations in the private sector are deploying strategic procurement tools and technologies that greatly improve operations. Transparency can be improved with better auditing, real-time monitoring, and end-to-end stakeholder management. Embracing technology is crucial for this improvement.

What is the value of procurement in Nigeria and its impact on the Nigerian economy?

Procurement affects the bottom line of any country. Effective procurement practices contribute significantly to Nigeria’s economic growth, social progress, and overall development. They help develop infrastructure, improve public services, and enhance citizens’ quality of life. However, poor procurement can lead to corruption, inefficiency, and waste, hindering development. The impact of procurement in Nigeria depends on the effectiveness and integrity of its procurement systems.

How would you rate the procurement and supply chain industry in Nigeria?
The procurement and supply chain industry in Nigeria is still growing. We have not yet reached our full potential, but there is hope. Embracing enablers and being intentional and patient with our efforts can improve the industry’s outlook.

What are the advantages and challenges of Procurement and Supply?

Effective procurement and supply chain optimization improve quality control, efficiency, and stakeholder collaboration. They also enable better forecasting, planning, risk management, and data-driven decision-making. However, challenges include forex volatility, cultural differences, capacity constraints, and global logistics. These issues require procurement professionals to fulfil requirements under challenging conditions.

How can Nigeria tackle issues of breach of trust and corruption in the procurement system?
To address trust breaches and corruption, Nigeria must implement a transparent and accountable procurement process prioritising openness, competitiveness, and value for money. Establishing a robust legal framework, using technology for real-time monitoring, optimising the Bureau of Public Procurement, promoting citizen engagement, and ensuring public access to procurement information are key steps.

RELATED

Disability Never Held Me Back – GM Alfijir Radio

2 weeks ago

We Need Law Amendments To Tackle Illicit Financial Flows – Ex-ICPC Chairman, Owasanoye”

3 weeks ago

What advice do you have for President Bola Ahmed Tinubu regarding supply chain and other things that will benefit Nigeria and Nigerians?

President Bola Ahmed Tinubu should understand that the efficiency of a country’s supply chains is crucial to its success. Improving supply chain efficiency can fast-track Nigeria’s development. Stakeholders must be involved and intentional about making this work, with the presidency driving the efforts. Embracing supply chain optimization, technology development, and sustainable solutions can support cross-functional processes and build the system needed for development.

What advice do you have for young people who want to toe this career path?

I encourage young people to delve into procurement, logistics, and supply chain management. This discipline needs more attention in Nigeria. We are willing to mentor and support young people on this journey, ensuring it is absolutely amazing for them.

What is your advice for Nigerians?

Fellow Nigerians, our efforts to strengthen and optimise supply chain management will transform our economy. By improving efficiency, reducing waste, and increasing transparency, we will unlock new opportunities for growth, job creation, and economic development. Our supply chain revolution will empower local businesses, support innovation, and attract investments, leading to better livelihoods and a brighter future for all Nigerians. Let us stay committed to building a robust and resilient supply chain that drives economic progress and enhances our global competitiveness. Together, we can work towards a stronger and more prosperous Nigeria.