A bill mandating Ministries, Departments, and Agencies (MDAs) to prioritise local manufacturers and indigenous companies in the procurement of goods and services, on Thursday, passed second reading in the House of Representatives.
Sponsored by Hon. Jesse Okey-Joe Onuakalusi, representing Oshodi/Isolo Federal Constituency II, Lagos State, the bill was consolidated with contributions from Hon. Obi Aguocha and Hon. Nnamdi Ezechi. The proposed law, titled the Local Industry Patronage Bill, 2024, seeks to compel MDAs to give precedence to Nigerian-made goods and services, while prohibiting the exclusion of locally produced items in the procurement process.
The bill’s objectives include mandating the procurement of local products such as furniture, machinery, motor vehicles, equipment, agricultural implements and oil and gas resources, which are either manufactured, assembled, produced or refined in Nigeria.
While presenting the bill, Hon. Onuakalusi emphasised its purpose in promoting Nigerian-made goods and services by creating an enabling environment for local industrialists.
“For too long, many talented Nigerian industrialists have remained in the shadows due to a lack of patronage and a conducive environment to operate,” he stated.
He also highlighted the bill’s potential to reduce the nation’s dependency on imported goods.
“Nigerians currently rely heavily on imported goods, many of which can be produced here in large quantities and with high quality,” he added.
Hon. Onuakalusi stressed that the bill would encourage research, innovation and the discovery of new talent in various sectors of indigenous production. Moreover, it aims to improve the standards of Nigerian goods and services, making them competitive with products from Europe, America and Asia.
“The bill has great economic value,” Onuakalusi said, adding that it would attract both local and foreign investors to the Nigerian manufacturing sector. Furthermore, he believed it would strengthen the naira and move the country closer to economic self-reliance.
