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NIGERIAN COMPANIES - Ogbonnaya Onu

Nigerian companies to compete for international tenders before 2029

Charles Nwaoguji and chinwendu Obienyi

Minister of Science and Technology, Dr. Ogbonnaya Onu, Monday, said Nigerian companies would in 10-20 years time be competing with the very best in other parts of the world for projects and contracts in international tenders.

This, he assured, would be achieved with the implementation of revolutionary Presidential Executive Order No. 5, for Planning and Execution of Projects, Promotion of Nigerian Content in Contracts, Science, Engineering and Technology. Delivering a speech at a World Press Conference on Presidential Executive Order No. 5, in Lagos, yesterday, the Minister explained that the Executive Order was meant to promote patriotism, love of country and economic nationalism as potent tools for a new social engineering of the country to trigger a silent revolution

He revealed that the Buhari administration expects that in the next 10-20 years, Nigerian companies would be competing with the very best in other parts of the world for projects and

contracts in international tenders as it demands that procurement entities should give preference to Nigerian companies and firms in the award of contracts in line with 2007 Procurement Act.

According to him, “the Executive Order No. 5 is made up of 18 sections, covering Preferences; Accreditation; Contract Award; Language of Contract; Capacity Development; Disqualification from Contract Award; Database of Experts in Nigeria; Expatriate Quota; Local Material; Tax Incentives; Punishment for Violation of Executive Order among others.

He stated that Nigerian companies and firms when awarding contracts in line with the Public Procurement Act, 2007. Hence, Nigerian companies and indigenous firms have the opportunity, more than ever before, to participate in national devel- opment through the award of contracts and also to serve as consultants.

The age of a firm will not be important, so long as it is legally registered and possesses requisite qualification, competence and experience in the management and execution of such contracts.”

Onu further stated that the Federal Government will henceforth place premium on the use of indigenous professionals and firms in the design and execution of projects involving national security while foreign experts will only be engaged on condition that such expertise is not available in Nigeria.

He thereafter assured that with the implementation of the Order, Nigeria will be self-reliant, producing locally many of the things it needs, and exporting the excess to other countries.

“From now on, Nigeria will be able to add value by using science, technology and innovation to convert its huge and abundant resources to products and services needed at home, thereby creating more wealth, more jobs and reducing poverty,” the Minister said.

According to him about six technology acquisition centres would be established in the six geopolitical zones to promote the utilisation and strengthening of technology capacity.

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Tokunbo David
Tokunbo David

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