Nigeria issues executive order on local content

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The Nigerian government has signed an Executive Order compelling its agencies to buy Made-in-Nigeria goods and services – a move experts strongly believe will go a long way in boosting indigenous businesses and the local content drive in Nigeria.

The order signed by Acting President Yemi Osinbajo last Thursday focuses on the preference for indigenous goods and services as well as the removal of bureaucracies which stall businesses. TheExecutive Order as detailed in a document presented by Okechukwu Enelamah, minister of Industry, Trade and Investment, notes that all Ministries, Departments and Agencies (MDAs) of the Federal Government shall grant preference to local manufacturers of goods and service providers in their procurement processes for a number of items including food and beverages, motor vehicles, Information and Communication Technology (ICT) products, pharmaceuticals, construction materials, furniture and fittings, among others.

Commenting on the development, Dr. Leo Stan Ekeh, chairman of Zinox Group, hailed the FG’s move as a step in the right direction and a potential game-changer for many quality-minded local businesses in Nigeria.

He said: “This announcement alone would have excited an army of 21st Century young Nigerian entrepreneurs who have been facing depression based on rejection of their certified products by government agencies and parastatals. It is a great development in our new Nigeria and I pray the Federal Government demonstrates the will to implement this to the letter in order to activate real and progressive development in the country. As you know, this policy direction will potentially result in massive job creation for our youths.

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“Granting preference to local manufacturers is a sure way of igniting the spirit of indigenous entrepreneurship. This is the standard the world over. Nigeria boasts a number of world-class companies whose products can compete favourably with those of their foreign counterparts. The problem has always been the right form of support from the government.

“Zinox, for instance, is patronized by a number of multinationals. Apart from Chevron Nigeria who remain one of our most regular customers, we have also enjoyed consistent patronage from other multinationals such as Total and Shell. Some of these companies – Chevron, Shell, Total have been patronizing Zinox for over 14 years and this is based purely on service quality as we all know the high standards these companies aspire to.

“I must commend the administration of President Muhammadu Buhari and the Acting President, Yemi Osinbajo for this bold move which will certainly go a long way in strengthening our local industries, provide more employment for our youths and boost our local currency.”

The post Nigeria issues executive order on local content appeared first on Innovation Village.

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