EFFECT OF PUBLIC PROCUREMENT ACT 2007 ON THE TRANSPARENCY AND COST EFFECTIVENESS OF PROCUREMENT OF GOODS AND SERVICES IN NATIONAL INSURANCE COMMISSION ABUJA, NIGERIA

Abstract

The Public Procurement Act (PPA) is a critical legislative instrument designed to promote transparency, efficiency, and accountability in the procurement process across Nigerian public institutions. This study investigates the effect of the Public Procurement Act on the procurement of goods and services within the National Insurance Commission (NAICOM) in Abuja, Nigeria. The study adopted Ladder of Accountability Theory by Steward. The study gathered quantitative data through structured questionnaires distributed to employees of NAICOM and key stakeholders involved in the procurement of goods and services. The study findings revealed that the Public Procurement Act 2007 has a significant impact on the transparency of procurement processes for goods and services in National Insurance Commission (NAICOM) in Abuja, Nigeria, and the implementation of the Public Procurement Act 2007 has a significant influence on the costeffectiveness of goods and services procured by the National Insurance Commission (NAICOM) in Abuja, Nigeria. The study recommends that NAICOM should address the issue of undue external influence and strengthen measures to safeguard the integrity of their procurement processes.