Abstract

There are many failed public procurements in Nigeria because of undue delays and the abandonment of projects. These projects are wholly funded by the public or co-financed by the Multilateral Development Institutions (MDIs). This anomaly occurs when there is a change of government. Given that the political elites supporting these projects lose political power. And the incoming elites are not adequately engaged or lost interest in the projects because the funds have been siphoned off. Although, the MDIs have robust guidelines on stakeholder engagement. However, their implementation appears inadequate within the procurement life cycle of the projects. Similarly, these guidelines do not anticipate the complex dynamics of a change of government; where the existing priorities and policies get altered due to the shifting interests of the new government. Often, these interests affect the commitment of the government to provide its counterpart fund for the projects. Oddly, the MDIs ought to be familiar with the fact that political interference and policy inconsistencies are the concomitants of change of government in Nigeria–an ever-present political risk. Given the above, rethinking the stakeholder engagement strategy is crucial to ensuring that projects get completed on schedule. The MDIs should increase the level of monitoring and evaluation. And step away from co-financing agreements unless it allows the federal government to provide the counterpart funds on behalf of the states.

Keywords: Key stakeholder, Stakeholder engagement strategy, Stakeholder management, Political elites, Multilateral Development Institutions (MDIs), Corruption, Co-financing