A bill aimed at prioritising local manufacturers and indigenous companies in government procurement has passed its second reading in Nigeria’s House of Representatives.
Sponsored by Mr. Jesse Okey-Joe Onuakalusi, the proposed legislation was consolidated with bills from Hon. Obi Aguocha and Hon. Nnamdi Ezechi. It seeks to prioritise local businesses and prevent the exclusion of locally produced goods in government procurement processes.
The Local Industry Patronage Bill, 2024, aims to ensure that goods and services produced, assembled, or refined locally—such as furniture, machinery, motor vehicles, equipment, agricultural implements, and oil and gas products—are prioritised in procurement without exceptions.
Mr. Onuakalusi emphasised that the bill promotes Nigerian-made goods and services, encouraging local industrialists who may have previously been deterred due to lack of support and conducive business environments to showcase their talents.
He added that the bill aims to reduce Nigeria’s reliance on imported goods and services, asserting that the country has the capability to produce these items locally with quality and quantity.
Mr. Onuakalusi also highlighted that the bill will foster research and development in local industries, encouraging the discovery of new talents and improving the quality of Nigerian goods and services to meet international standards, allowing them to compete with those from Europe, America, and Asia.
The lawmaker further stated that the bill would be of significant economic value by attracting both foreign and local investors to support Nigerian-made products. He added that it would strengthen the naira and move Nigeria towards economic self-reliance.