Reps Passes Local Content Bill for Second Reading

by Ike Obudulu Last updated on March 13th, 2017,

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The House of Representatives yesterday passed for second reading, a  Bill for an Act to make it Mandatory for Government Ministries, Departments and Agencies to Give Priority to Local Manufacturers and Indigenous Companies in the Procurement.

The bill which seeks to Prohibit the Exclusion of Locally Produced Goods and services  in the Procurement was committed to the House committee on Public Procurement.

According to the bill sponsored by the member representing Lokoja federal constituency of Kogi state , Buba Jibril Ministries, Departments and Agencies will give priority to local manufacturers and indigenuos companies in the procurement of goods, works and services.

According Jibril, the bill also seeks to prohibit the exclusion of locally produced goods in the procurement process in the country.

The lawmaker expressed concern that the current procurement process does not favour locally manufactured materials, emphasised that it kills the morale of the local manufacturers.

This according to him affects negatively the growth and development of local manufacturing industry in the country.

“This bill proposes to reverse the ugly trend to create a favourable atmosphere for the growth of our local industries and make the procurement process more transparent through diversified competition between indigenous and foreign actors. The legislative proposal will also create a sense of corporate responsibility by the MDAs towards local manufacturers engaged in the public procurement in Nigeria,’’ he said.

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Ike Obudulu

Ike Obudulu

Versatile Certified Fraud Examiner, Chartered Accountant, Certified Internal Auditor with an MBA in Finance And Investments who has both worked for and consulted with some of the world's largest companies on main street and wall street in over 20 countries, Ike brings his extensive reporting and investigations experience to bear on his role as Chief Editor.
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