President Muhammadu Buhari has ordered all public sector procuring authorities to give Nigerian firms preference.
The president signed an executive order (EO) on Monday giving local companies preference in public sector tenders, which aims to “improve local content” in the procurement of science, engineering and technology components, according to the president’s official twitter account.
“The EO is expected to promote the application of science, tech and innovation towards achieving Nigeria’s development goals,” it said.
The official announcement added that where domestic expertise was lacking, public bodies would be allowed to give preference to foreign companies as long as they had a “demonstrable and verifiable” plan to develop local capabilities in place before being awarded the contract.
Buhari said the changes were in line with the Public Procurement Act 2007, which states that procuring entities may grant a margin of preference decided by the Bureau of Public Procurement when comparing tenders from domestic and foreign bidders.
The EO also directs ministries, departments and agencies to engage with domestic professionals in the planning, design and execution of national security projects.
During the campaign for his presidency, Buhari pledged to end Nigeria’s dependence on oil exports by diversifying the economy.
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