The National Assembly, has called for the inclusion of local contractors in Nigeria’s construction industry as a to boosting national development.
Speaking at a summit in Abuja on “Empowering Local Contractors for National Development: Bridging Gaps and Building Partnerships” on Monday, members of the Senate and House of Representatives emphasised the importance of empowering indigenous contractors.
Chairman of the Senate Committee on Works, Barinada Mpigi, on his part, highlighted the challenges local contractors face, including limited financing, inadequate equipment, and insecurity, suggesting innovative solutions like tokenisation of assets and tax credits to bridge the financial gaps.
“Our local contractors face significant challenges that hinder their potential to contribute to national goals. Challenges such as limited access to long-term financing, inadequate equipment, lack of insurance facilities, and issues of insecurity have long been obstacles to their growth and success. Globally, other nations have implemented strategic measures to support their local contractors”, he said.
Also Speaking, Chairman of the House Committee on Works, Akin Alabi, stressed the need for partnerships, prioritizing local contractors.
“Today, we gather with a shared purpose to strengthen the bridges between the government, stakeholders and our local contractors and construction companies, fostering partnerships that will empower our indigenous industries and transform our country’s infrastructure.
“Nigeria has a diverse landscape which holds immense potential for growth and development. However, to truly unlock these potentials, we need an approach that maximises local resources, skills and talents. It is time to make the call to embrace our local contractors not only as stakeholders but as partners in our journey to national development”, he stated.
In her goodwill message, President of the Nigerian Society of Engineers (NSE), Margaret Oguntala, who was represented by the President, Association of Consulting Engineering in Nigeria, Kam-Salem Bukar, Oguntala said, “As policymakers, legislatures are tasked with crafting laws that empower local content and infrastructure initiatives. By reinforcing the principles of Executive Order 5, they can ensure that Ministries Departments and Agencies prioritise Nigerian professionals and resources in public procurement”.
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