<\/p>\n
By George Mgbeleke<\/p>\n
The Senate has mandated its Committees on Public Procurement Local Content to ensure level playing ground for local contractors in the contract bidding process.<\/p>\n
The red chamber urged the committees to liaise with Bureau of Public Procurement (BPP) and Local Content with a view to amend their various Acts to give local contractors fair chance to contribute to the nation’s economic growth.<\/p>\n
This resolution followed the adoption of a motion at plenary on Wednesday on need to engage local indigenous contractors for execution of Small-Scale Federal Government contracts to stimulate grassroots economic development.<\/p>\n
The sponsor of the motion, Senator Suleiman Sadiq APC- (Kwara North) said the federal government was committed to fostering inclusive economic growth, reducing poverty, and creating sustainable development and employment opportunities for its teeming population.<\/p>\n
According to him \u201cSmall and Medium-Sized Enterprises (SMEs) and Local Contractors represent the bedrock of the economy, possessing vast potential for job creation, wealth distribution, and local capacity building at the grassroots level.<\/p>\n
\u201cThere is an existing local content policies and initiatives including the Renewed Hope Infrastructure Development Fund\u201d by the current administration.<\/p>\n
However, he said the numerous small-scale federal government contracts below the threshold of N50 million were often executed by larger, non-indigenous firms.<\/p>\n
This, he said was limiting direct economic benefits to local communities and stifling the growth of nascent indigenous enterprises across the 774 local government areas.<\/p>\n
Engaging local contractors for such contracts would significantly enhance community participation, job creation, increase productivity, foster sense of ownership in public projects, he said.<\/p>\n
\u201cIt will ensure that government spending directly circulates within local economies\u201d, he said.<\/p>\n
In his contribution to the debate, Senator Sani Musa (APC-Niger East) said there was a need to engage local contractors with capacity to ensure inclusivity, advising that BPP streamline its requirements on bidding and procurement to accommodate local contractors.<\/p>\n
Senators Solomon Olamilekan (APC-Ogun) and Adamu Aliero (APC-Kebbi Central) harped on need to revisit amendment of Local Content and Procurement Acts to make for seamless participation of local contractors.<\/p>\n
Olamilekan ,specifically called for amendment of the Local Content Act, suggesting its expansion to other sectors of the economy.<\/p>\n
Senate President, Godswill Akpabio said the red chamber would consider amending the BPP Act since it was becoming difficult for local contractors to win contract job awards<\/p>\n","protected":false},"excerpt":{"rendered":"
By George Mgbeleke The Senate has mandated its Committees on Public Procurement Local Content to ensure level playing ground for local contractors in the contract bidding process. The red chamber urged the committees to liaise with Bureau of Public Procurement (BPP) and Local Content with a view to amend their various Acts to give […]<\/p>\n","protected":false},"author":2,"featured_media":1228,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[3],"tags":[3393,796,3391,3169,2777,1910,3390,3392],"class_list":["post-5224","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business-economy","tag-capacity-ensure","tag-contractors","tag-expansion","tag-inclusivity","tag-procurement","tag-requirements","tag-specifically","tag-streamline"],"_links":{"self":[{"href":"https:\/\/dailyechoes.ng\/index.php\/wp-json\/wp\/v2\/posts\/5224","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dailyechoes.ng\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dailyechoes.ng\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dailyechoes.ng\/index.php\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/dailyechoes.ng\/index.php\/wp-json\/wp\/v2\/comments?post=5224"}],"version-history":[{"count":1,"href":"https:\/\/dailyechoes.ng\/index.php\/wp-json\/wp\/v2\/posts\/5224\/revisions"}],"predecessor-version":[{"id":5225,"href":"https:\/\/dailyechoes.ng\/index.php\/wp-json\/wp\/v2\/posts\/5224\/revisions\/5225"}],"wp:attachment":[{"href":"https:\/\/dailyechoes.ng\/index.php\/wp-json\/wp\/v2\/media?parent=5224"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dailyechoes.ng\/index.php\/wp-json\/wp\/v2\/categories?post=5224"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dailyechoes.ng\/index.php\/wp-json\/wp\/v2\/tags?post=5224"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}