OVERVIEW OF: Contracts Below N5Billion Will No Longer Be Awarded To Foreign Firms - Federal Government
The Federal Government of Nigeria has announced that hence any contract below N5bn will not be awarded to foreign firms.
The development was confirmed in a Twitter post on Thursday, October 22, by Bashir Ahmad, Personal Assistant to President Muhammadu Buhari on New Media.
According to the presidential aide, the decision was in line with proposed Local Content Bills being considered by the Nigerian Senate and the Hon. Min. Of State Works & Housing, Engr. Abubakar D. Aliyu who is also a onetime deputy governor of Yobe State.
Announcing the development, Bashir tweeted; “The FG directs that contracts not above N5bn will no longer be awarded to any foreign firms, this is in line with proposed Local Content Bills being considered by the Senate, the @FMWHNIG’s Engr. Abubakar Aliyu, @sadiqatfifty, states that at a public hearing organised by the NASS.”
Meanwhile, Bishop of the Catholic Diocese of Sokoto, Bishop Matthew Kukah, has urged President Muhammadu Buhari to address the nation on the ongoing turbulence in the nation.