Local Content: FG bars foreign firms from N5bn contracts

Local Content: FG bars foreign firms from N5bn contracts

The Federal Government on Tuesday barred foreign firms from contracts worth N5 billion and below in the country as a way of empowering local contractors in line with proposed Local Content Bills being consisted by the Senate.
The Minister of State for Works and Housing, Abubakar Aliyu state that when he appeared before National Assembly Joint Committees on Local Content, in Abuja.

“As part of measures being put in place for strengthening of local content laws in the country, contracts that are not more than N5billion are to be the exclusive preserve of indigenous firms or companies for bidding, award and execution,” Aliyu said.

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