Economy

Buhari signs executive order to give priority to Nigerian Companies in procurement

President Muhammadu Buhari on Monday in Abuja signed Executive Order 5 to improve local content in public procurement with science, engineering and technology components.

 

The Executive Order is expected to promote the application of science, technology, and innovation towards achieving the nation’s development goals across all sectors of the economy.

 

The president, pursuant to the authority vested in him by the constitution, ordered that all ‘‘procuring authorities shall give preference to Nigerian companies and firms in the award of contracts, in line with the Public Procurement Act 2007.’’

 

The Executive Order also prohibits the Ministry of Interior from giving visas to foreign workers whose skills are readily available in Nigeria.

 

It, however, notes that where expertise is lacking, procuring entities will give preference to foreign companies and firms with a demonstrable and verifiable plan for indigenous development, prior to the award of such contracts.

 

In the proclamation entitled ‘‘Presidential executive order 5 for planning and execution of projects, promotion of Nigerian content in contracts and science, engineering and technology,’’ the president also directed Ministries, Departments, and Agencies to engage indigenous professionals in the planning, design, and execution of national security projects.

 

It adds that ‘‘consideration shall only be given to a foreign professional, where it is certified by the appropriate authority that such expertise is not available in Nigeria.’’

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s

This site uses Akismet to reduce spam. Learn how your comment data is processed.