Challenges and Prospects of Implementing Procurement Law in a Developing Economy: An X-ray of Oyo State Procurement Law

Public procurement legislative reforms have proved to be a veritable economic development mechanism. This reform seeks to streamline, legalize and institutionalize public procurement practices in order to achieve the objectives of transparency, accountability, probity and anti-corruption. Using the Polytechnic Ibadan as a case-study, the paper X-ray some of the basic features and expectations of public procurement law regime. It observes that procurement law regime seeks to achieve the purpose of good governance through institutionalization of standard procurement practices. The data collection tool used was structured closed and open –ended questionnaires for the respondents who had been involved in the procurement process including survey of related literature on public procurement. In the course of testing the hypotheses, regression analysis was used to test the impact of public procurement in the execution of capital projects. The result of the findings reveals that Public Procurement Law had not made any significant impact on the execution of capital projects in the Polytechnic, Ibadan. The paper posits that if Nigeria nation must achieve the objectives of openness, transparency, probity, accountability and reduced corruption in line with global best governance institutional reform agenda, efforts should be intensified to deepen public procurement practices across all the government institutions.