Connect with us

Business

FG Contracts:  Senate Harps On Nigerian Made Goods

Published

on

In line with the expectations
of patriotic Nigerians, the Senate has taken a step towards enforcing the patronage of made in Nigeria goods in the award and implementation of government contracts, as the upper chamber last Thursday passed for third reading the Bill seeking to Amend the Public Procurement Act (2007).
Going by the  general principle of the bill, if finally  signed into law by Mr. President, the bill will provide for and adopt a local content policy and timely completion of procurement process, to enable local manufacturers have the chance to be considered in government contractual procurements.
Presenting the report of the committee to the Senate at plenary , the chairman of the Senate Committee on Procurement, Joshua Dariye, noted that the provisions of the Bill will boost the confidence of the local manufacturers as the committee upheld the section that stipulated local content priority.
The   committee also recommended the immediate constitution of the National Council on Public Procurement (NCPP) by the President, which will take away from the Federal Executive Council (FEC) the responsibility of awarding contracts and place such duty on the NCPP, to be chaired  by the President.
Senator Dariye reported  that “The Committee has equally sustained the amendment sought by the Bills for the purpose of patronising made in Nigeria goods, alongside foreign goods. This will go a long way to encourage our Nigerian manufactures and by extension provide job opportunities for our teeming unemployed youths”
He also explained that the committee rejected part of the amendment proposed by the Bill, which seeks to review upwardly the mobilisation fee to be paid contractors from 15% to 25%, saying this is in view of the current downturn in the nation’s economy whereby a considerable percentage of the national budget would be financed through borrowing.
“The committee believes that it does not make any economic sense to borrow at high interest rate and give up to 25% of contract sum to the same contractors that will be paid profit afterwards; and it is in conflict with section 2930 of the Financial Regulations of the Country”,  he continued .
Explaining further, senator Joshua Dariye  pointed out that  the committee enhanced the time for completion of procurement processes at various phases, while Section (1) was amended by adding sub section (2) to give the President the powers to appoint the chairman of the council, which he said is in line with Sections 171 and 172 of the 1999 Constitution (as amended).
Briefing journalists after the bill was passed, senator Dariye  also said the committee enlarged the membership of the National Council on Procurement to include the Nigerian Institute of Architects and the Nigeria Institute of Quantity Surveyors, pointing out that the two bodies are very vital to any capital project which he said was the major aspect of procurement.
Meanwhile, he said that by the time the Bill was assented by the President, the Federal Executive Council will no longer be in charge of awarding and approving contracts, but the National Council on Procurement will be charged with the responsibility as provided in the Constitution of the country.
He equally expressed hope that President Mohammadu Buhari, would not hesitate to sign the bill into law the moment the National Assembly forwarded it to the Presidency.

 

Nneka Amaechi-Nnadi

Continue Reading

Business

Fidelity Bank To Empower Women With Sustainable Entrepreneurship Skills, HAP2.0

Published

on

Leading financial institution, Fidelity Bank Plc, has announced the launch of the second edition of its flagship women-empowerment initiative, the HerFidelity Apprenticeship Programme 2.0 (HAP 2.0).
According to the report, the programme is designed to equip women with practical, income?generating skills and structured pathways to entrepreneurship.
 Accordingly, the HAP 2.0 will build on the success of its inaugural edition held in 2023.
During media chat with journalists to herald the launch of HAP 2.0, the Divisional Head, Product Development, Fidelity Bank Plc, Osita Ede, explained that the initiative has been enhanced to deliver greater impact.
He said HerFidelity Apprenticeship Programme 2.0 reflects their commitment to continuous improvement, having evaluated feedback from the first edition, they have returned with stronger partnerships and deeper mentorship programmes to ensure that women acquire not just skills, but sustainable economic opportunities.
Mr Ede, who said the programme is guided with real?world learning, also said that participants will undergo intensive apprenticeship training under reputable institutions and industry experts across selected fields such as hair styling, shoe making, auto mechatronics, and interior decoration.
Additionally, he said HerFidelity Apprenticeship Programme 2.0 goes beyond skills acquisition by offering participants a wide range of business advisory services.
These include business and financial literacy training, mentorship support throughout the apprenticeship journey, access to Fidelity Bank’s women?focused and SME financial solutions, as well as guidance on business formalisation and growth strategies.
Emphasizing the bank’s vision further, Ede said: “By integrating structured mentorship with entrepreneurial development, Fidelity Bank is positioning women not just as trainees, but as future employers, innovators, and economic contributors within their communities.
 This aligns with our mandate to help individuals grow, businesses thrive, and economies prosper”.
It is noteworthy that interested participants are encouraged to indicate their interest by visiting https://bit.ly/Apprenticeshipbyherfidelity.
It is important to note that Fidelity Bank Plc is ranked among the best banks in Nigeria, with a full-fledged Commercial Deposit Money Bank serving over 10 million customers through digital banking channels, with 255 business offices in Nigeria and United Kingdom subsidiary, FidBank UK Limited.
It is reported that the Bank is a recipient of multiple local and international Awards, including the 2024 Excellence in Digital Transformation & MSME Banking Award by BusinessDay Banks and Financial Institutions (BAFI) Awards, the 2024 Most Innovative Mobile Banking Application award for its Fidelity Mobile App by Global Business Outlook, and the 2024 Most Innovative Investment Banking Service Provider award by Global Brands Magazine.
By: Nkpemenyie mcdominic, Lagos
Continue Reading

Business

President Tinubu Approves Extension Ban On Raw Shea Nut Export

Published

on

President Bola Ahmed Tinubu has approved the extension of the ban on the export of raw shea nuts for a further one year, from February 26, 2026, to February 25, 2027.
Bayo Onanuga, Special Adviser to the President on (Information and Strategy) who disclosed this on Wednesday, February 25, 2026 stressed the Federal Government remains committed to policies that promote inclusive growth, local manufacturing, and position Nigeria as a competitive participant in global agricultural value chains.
The decision underscores the administration’s commitment to advancing industrial development, strengthening domestic value addition, and supporting the objectives of the Renewed Hope Agenda.
The ban aims to deepen processing capacity within Nigeria, enhance livelihoods in shea-producing communities, and promote the growth of Nigerian exports anchored on value-added products.
To further these objectives, President Tinubu has authorised the two Ministers of the Federal Ministry of Industry, Trade and Investment, and the Presidential Food Security Coordination Unit (PFSCU), to coordinate the implementation of a unified, evidence-based national framework that aligns industrialisation, trade, and investment priorities across the shea nut value chain.
He also approved the adoption of an export framework established by the Nigerian Commodity Exchange (NCX) and the withdrawal of all waivers allowing the direct export of raw shea nuts.
The President directed that any excess supply of raw shea nuts should be exported exclusively through the NCX framework, in accordance with the approved guidelines.
By: Nkpemenyie Mcdominic, Lagos
Continue Reading

Business

Crisis Response: EU-project Delivers New Vet. Clinic To Katsina Govt.

Published

on

A Non – Governmental Organisation (NGO), Mercy Corps, has handed over a newly constructed Veterinary Clinic and a rehabilitated structure in Danmusa Local Government Area (LGA), to the Katsina State Government.
The project, which included a 20,000-litre capacity upgraded solar-powered borehole, was executed under the European Union-funded Conflict Prevention, Crisis Response and Resilience (CPCRR) project.
The initiative is being implemented in collaboration with the International Organisation for Migration (IOM), and the Centre for Democracy and Development (CDD).
Speaking during the handover ceremony, Wednesday, the Commissioner for Livestock and Animal Husbandry in Kastina State, Prof Ahmed Bakori, commended Mercy Corps and its partners on such commitment to support peace and development in the state.
While praising the state government for restoring peace and stability, the said project would improve livestock services and the welfare of farmers who depend on animal health services for livelihood.
Bakori buttressed that improved security in the state had enabled development partners to implement meaningful interventions in communities affected earlier.
He said, “Recently, Gov. Dikko Radda was in South Africa to explore strategies for boosting livestock production and strengthening the livestock value chain in line with the government’s economic development agenda.”
In his remarks, Mercy Corps Senior Programme Manager, Mr Philip Ikita, expressed satisfaction on the timely and successful implementation of the project in Danmusa.
He stated that although Mercy Corps began its operations in the state in 2023, security challenges, had initially prevented the organisation from accessing some areas, including Danmusa.
Ikita said that the project would improve access to essential services, strengthen livelihoods and contribute to sustaining peace in the community.
“The project involves the upgrade of a veterinary clinic from a two room structure into a fully functional six office facility, embarked on to strengthen livestock healthcare services in the area.
“The programme builds on the success of the Conflict Mitigation and Community Reconciliation (CMCR) project and seeks to promote long-term peace and stability in Northwest Nigeria.
“It works across 48 communities in Zamfara and Katsina States, addressing the root causes of conflict, enhancing community resilience, and strengthening socio-economic recovery,” he said.
Also, the District Head of Danmusa, Ahmadu Abubakar, expressed appreciation to Mercy Corps and its partners for the intervention, describing the projects as timely and beneficial.
Earlier, the Chairman of Danmusa LGA, Ibrahim Na-Mama, represented by his Deputy, Musa Muhammad, expressed appreciation for the projects, assuring that the council would support efforts to safeguard them.
Continue Reading

Trending