A Bill seeking to make it mandatory for Ministries, Departments and Agencies to give priority to local manufacturers and
indigenous companies in the procurement of goods and services has scaled through second reading in the House of Representatives.
Sponsored by Mr. Jesse Okey-Joe Onuakalusi , the bills was consolidated with Hon Obi Aguocha and Hon Nnamdi Ezechi.
It aims to give priority to local manufacturers and indigenous companies, and also to prohibit the exclusion of locally produced goods in the procurement process.
The Local Industry Patronage Bill, 2024, aims and objectives is to allow for local goods and services to be given priority, with no exceptions to any furniture, machine, motor vehicle, equipment, agricultural implements, oil and gas, either manufactured, assembled, coupled, produced and refined locally in Nigeria.
Mr. Onuakalusi said it is to promote made in Nigeria goods and services by inviting and encouraging more talented Nigerian Industrialists who, for lack of patronage and conducive environment to operate, have not come out to showcase their talents.
He said that it is also to reduce overdependence of Nigerians on importation of virtually all the goods and services that are consumed in Nigeria when they can qualitatively and quantitatively manufacture and produce by Nigerians.
Mr. Jessy, said that it also aims to bring about more researches and discoveries of new talents in all indigenous good and services as well as assist in improving made in Nigeria goods and services to an international standard to compit with Europe, America and Asia Countries.
The lawmaker also said that the Bill is also of great economic value as it shall attract both foreign and local investors to invest on made in Nigeria goods and services
He added that it shall strengthen the Naira and drive Nigeria towards economic self reliance.
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