Senate President, Bukola Saraki
The Nigerian Senate took a great step in stabilizing the country's
economy and protecting its locally made goods as it passed into law the
Public Procurement Act 2007 (amendment) bill 2016. The law makes it
mandatory for government agencies to purchase and patronize
made-in-Nigeria goods.
The law will not only promote locally made products, it will also help stabilize the economy.
The Senate President while considering a report on the bill said
that the latest move by the hollow chamber is a good move in the right
direction as it will help “in stimulating our economy, [as] we all
have a role to play to ensure that the executive complies especially in
the area of giving first priority to locally-produced goods.
“This has helped many countries to develop when they had issues
of downturn in their economy. I believe that having over N3trn
available to stimulate local production going on now.
“One of the things that we have done today is also trying to
shorten the process of awarding contracts; this will go a long way in
helping budget implementation.
“It would go a long way in ensuring that most of the funds are
available as quickly as possible and jobs are actually completed. I want
to commend my colleagues for passing this bill.”
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