The Nigerian Senate has commenced efforts to amend key laws governing public procurement and local content, signalling a strategic push to enhance transparency, boost indigenous participation, and strengthen economic value within government contracts. The proposed legislative changes aim to address existing loopholes that have hindered efficient implementation and curtailed opportunities for local businesses.
During plenary sessions, lawmakers highlighted the need for a robust legal framework that not only ensures accountability in the award and execution of public contracts but also prioritises Nigerian companies in sectors critical to national development. Senators stressed that the amendments will align Nigeria’s procurement and local content regulations with international best practices, promoting fair competition while protecting local industries.
The proposed bills seek to refine procurement processes, enhance monitoring mechanisms, and enforce stricter penalties for violations. Additionally, the revisions aim to expand local content requirements, mandating greater involvement of Nigerian professionals, materials, and technology in public projects. This legislative move is expected to stimulate job creation, encourage capacity building, and boost overall economic growth.
The Senate has invited relevant stakeholders, including regulatory agencies, industry experts, and civil society organisations, to contribute to the review process. Public consultations and committee hearings are expected in the coming weeks as lawmakers work to finalise the amendments and pave the way for improved governance in procurement and local content management.
