As the world prepares for measures in boosting economies after the ease of global lockdown, the Nigerian National Assembly, is once again, saddled with the responsibility of coming up with legislative piece and actions that could help rejuvenate the nation’s economy and help Nigerians overcome post-Corona virus hardship.
Amongst other things, the Bill seeks to expand the scope of local content in the extant NOGICD Act, thereby putting the Nigerian economy in the hands of Nigerians, creating jobs and enhancing the value of indigenous businesses in the post Covid-19 era. “Also notable, are the President’s efforts to extend local content compliance to the public procurement practices of federal parastatals vide his Executive Orders 003 and 005.
2. The Bill makes it mandatory for Nigerian made goods and services in all public procurements; Nigerian content philosophy as a key requirement in all public sector procurements; provides for creation of local content departments in MDAs and provides requirement for Nigerian Content Plan on major projects outlining minimum Nigerian Content thresholds for materials, labour and services required on the project.
The Bill also provides for creation of national database of available skills amongst the Nigerian locals and requirements for approval and utilization of expatriates will only role where there is immediatee skills shortage.
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