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NASS Moves to Unlock Financial Opportunities for Local Contractors

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The Joint Committee on Works in the National Assembly has called for innovative interventions to grant local contractors access to finance and unlock their potentials to contribute to national development.

The leadership of the committees made the call on Monday in Abuja, at the opening summit entitled “Empowering Local Contractors for National Development: Bridging Gaps and Building Partnerships.

The Chairman, Senate Committee on Works, Sen.

Barinada Mpigi (PDP-Rivers) said that local contractors were faced with challenges of limited financing, inadequate equipment and insecurity.

He said that the challenges were hindering the potentials of the contractors to contribute to national goals.

The senator suggested innovative solutions like “tokenization of assets and tax credits” to bridge the financial gap experienced by contractors.

According to Mpigi, indigenous contractors have not been given opportunities over the years in the nation’s infrastructural sector.

He said that promoting fair procurement processes, engaging with local communities and prioritising environmental sustainability, while ensuring that infrastructure projects were built with the future in mind must be prioritised.

Mpigi urged the Securities and Exchange Commission (SEC) to explore innovative approaches such as the tokenisation of assets.

According to him, this process allows local contractors to convert their assets into digital tokens, facilitating access to funds from a broader pool of investors.

“Challenges such as limited access to long-term financing, inadequate equipment, lack of insurance facilities, and issues of insecurity have long been obstacles to their growth and success.

“By unlocking these new financing opportunities, tokenization can empower local contractors to raise capital, enable fractional ownership, and improve liquidity in the sector.

“The Federal Inland Revenue Service (FIRS) can play a crucial role in supporting our local contractors by introducing easier access to tax credits, which will ease their financial burden.

“Such incentives can encourage investment in the sector, providing them with much-needed relief and fostering growth,” he added.

In his remarks, the Chairman, House Committee on Works, Mr Akin Alabi (APC-Oyo) said that there was need for partnerships among stakeholders that prioritise local contractors in adherence to Executive Order 5, which promoted local content.

He said that the workshop was aimed at strengthening the bridges among the government, stakeholders and local contractors as well as construction companies, foster partnerships that would empower indigenous industries to transform Nigeria’s infrastructure.

According to him, Nigeria has a diverse landscape which holds immense potential for growth and development.

“However, to truly unlock these potentials, we need an approach that maximises local resources, skills and talents.

“It is time to make the call to embrace our local contractors not only as stakeholders but as partners in our journey to national development.

“We need a construction industry that is driven by local content, benefitting our people and fortifying our economy.

“Today’s summit provides an opportunity to address challenges, explore solutions and deepen collaborations between indigenous contractors, construction companies and key policymakers,” he said.

In her goodwill message, the President, Nigerian Society of Engineers (NSE), Ms Margaret Oguntala, acknowledged the importance of collaboration among the various stakeholders in the country’s infrastructural sector.

Oguntala, represented by the President, Association of Consulting Engineering in Nigeria, Mr Kam-Salem Bukar, called the attention to the principles of Executive Order 5 signed by former President, Muhammadu Buhari.

She said that policymakers and legislatures were tasked with crafting laws that empowered local content and infrastructure initiatives.

According to her, by reinforcing the principles of Executive Order 5, they can ensure that Ministries, Departments and Agencies prioritise Nigerian professionals and resources in public procurement.

The NSE president identified professional consulting engineers and engineering regulatory bodies as important partners with significant input in the infrastructural arena.

Oguntala commended the organisers of the event and called for regular dialogue, training and capacity building as well as regulatory oversight to promote Nigeria’s infrastructural development. (NAN)

JUDICIARY

Court Stops Ekiti PDP Congresses

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 An Ekiti State High Court in Ado-Ekiti on Wednesday granted an order stopping the conduct of the Local Government and State Congresses of Peoples Democratic Party (PDP) in the State.

Justice E.B. Omotoso gave the order while ruling on a motion on exparte number HAD/424M/2025 filed by Mr Afolabi Adedeji.

The suit was filed against the PDP, the party’s Acting National Chairman, Umar Damagun; National Organising Secretary, Umar Bature; Caretaker Chairman of the party in Ekiti state, Dare Adeleke and the Independent National Electoral Commission (INEC).

The court ordered that all parties to the suit should maintain status quo, pending the hearing and determination of the motion on notice.

The court also ordered that the PDP Acting National Chairman, National Organising Secretary and Ekiti State Caretaker Chairman should be served the court order through their WhatsApp numbers.

“Leave is hereby granted to the claimant/applicant to serve the 1st, 2nd, 3rd and 4th defendants the Originating Process with its accompanying processes by substituted means, by pasting the afosesaid originating process on the wall of the 1st defendant’s office situate at Ajilosun Street, Ado Ekiti, Ekiti State.

“In addition, the claimant/applicant is granted leave to serve the 2nd, 3rd and 4th defendants vide their WhatsApp phone numbers 08047677070, 08035961850 and 08033242822 respectively.

“All parties in this case are hereby ordered to maintain status quo pending the hearing and determination of the Motion on Notice which is hereby fixed for hearing on Wednesday, the 14th day of May, 2025,” the court ruled.

The plaintiff, Afolabi Adedeji, had sought an order of interim injunction, retraining the defendants, privies, agents and successor-in-title/office, from accepting any list of persons who did not obtain election forms, participate in the elections and elected by the simple majority votes of the ward congress of the PDP in Ekiti State to act for the party, as delegates at any election of the party apart from those elected on March 15, 2025.

The plaintiff also sought an order of the court to mark the originating summons as concurrent.

He equally sought to issue and serve, the originating summons, and other accompany originating processes, and all other processes in the case on the 1st , 2nd, 3rd and 5th defendants, whose address is outside the jurisdiction of the court and in the Federal Capital Territory. (NAN)

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General News

Tinubu’s visit: Anambra Govt. Urge Residents To Cooperate With Security Agents

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 The Anambra Government has advised residents of the state to cooperate with security agencies and other relevant authorities in order to ensure a memorable state visit for president Bola Tinubu on Thursday.

Dr Law Mefor, Anambra Commissioner for Information, reiterated the State Government’s readiness to host President Bola Tinubu on a day official visit on May 8.

Mefor gave the advice in an interview in Awka on Wednesday said that every necessary activities to ensure the smooth flow of the President’s State visit has been done.

According to him, the historic visit, of the Commander-in-Chief of the Armed Forces of the Federal Republic of Nigeria is to commission some projects of the state government under Gov.

Charles Soludo’s administration.

Mefor emphasised that the visit would afford the state government the opportunity to showcasing the state’s progress and development under three years of Soludo’s leadership.

The commissioner, however, urges residents to comply with adjustments to traffic flow, commuter schedules and security tips to avoid any breach of peace in the state during and after the visit.

He said that the government was elated to host the President and assures the presidential team of a warm and hospitable reception. (NAN)

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Agriculture

NNPC Foundation Reiterates Commitment to Ensuring Food Security 

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The Nigerian National Petroleum Corporation (NNPC) Foundation has renewed its commitment to ensuring food security in the country.

Mrs Emmanuella Arukwe, Managing Director, NNPC Foundation, said this on Wednesday in her remarks during the training of vulnerable farmers in Akwa Ibom.

Arukwe said that 6, 000 farmers across the country would be trained on modern farming methods and market access strategies to boost food production in the country.

Arukwe, who was represented by Dr Bala David, Executive Director, Programme Development and Coordinator, NNPC Foundation, added that the Foundation was dedicated to implementing impactful programmes that aligned with national priorities.

She said that more than 500 farmers in Akwa Ibom were trained by the NNPC Ltd Agricultural Training Initiative for Vulnerable Farmers on modern methods and strategies to boost food production.

Arukwe added that the farmers were drawn from the state’s 31 local government areas to participate in the training to equip them with techniques and market access strategies to add value to their businesses.

“This programme is a testament to our unwavering commitment to food security, economic empowerment and national development.

“As the corporate social responsibility arm of NNPC Ltd, the Foundation is dedicated to implementing impactful programmes that align with national priorities.

“This initiative is part of our broader efforts to support the Federal Government’s agricultural transformation agenda, which seeks to enhance food security, increase productivity, and improve the livelihoods of smallholder farmers.

“Our goal is to equip every participant with the tools, knowledge, and resources needed to transition from subsistence farming to commercial-scale production,” Arukwe said.

In her remarks, Dr Offiong Offor, Commissioner for Agriculture and Rural Development, Akwa Ibom, thanked NNPC for the initiative to equip farmers with knowledge on modern farming.

Offor, represented by Dr Atim Okoko, Permanent Secretary, Ministry of Agriculture and Rural Development, said that a nation that trained farmers was a nation that would not go hungry.

“I want to express the state government’s appreciation to NNPC for mounting this laudable programme.

“A nation that starts to train farmers, a nation that starts to look at farmers will never go hungry.

“In this season that our President Bola Tinubu has come up with his Renewed Hope Agenda, everything is to end hunger in Nigeria,” Offor said.

The commissioner added that the programme came to complement what the state government was doing to ensure food sufficiency.

Responding on behalf of farmers, Mr Bassey Inwang, State Chairman, All Farmers Association of Nigeria (AFAN) said farmers in the state were so grateful for the training.

Inwang said the training would boost food production in the state, as the farmers would apply the knowledge gained on their farms for increase in yields.

He said, “We want to tell you that we will not take this training for granted, we will apply it properly on our farms.” (NAN)

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