Five benefits that could come with President Muhammadu Buhari’s new executive order

President Muhammadu Buhari on Monday signed the Executive Order Five, which states that ‘‘procuring authorities shall give preference to Nigerian companies and firms in the award of contracts, in line with the Public Procurement Act 2007.’’

The proclamation entitled ‘‘Presidential executive order 5 for planning and execution of projects, promotion of Nigerian content in contracts and science, engineering and technology,’ according to a statement sent to PREMIUM TIMES, was made to improve local content in public procurement with science, engineering and technology components.

The Implementation of this order is bound to come with a number of benefits if strictly adhered to. Some of them, according to the statement, are:

1. It would promote the application of science, technology and innovation towards achieving Nigeria’s developmental goals across all sectors of the nation’s economy.

2. Preference would be given to Nigerian companies and firms by procuring authorities in the award of contracts.

3. A practical and verifiable plan for indigenous development must be created prior to the award of such contracts in cases where expertise is lacking.

4. The Ministry of Interior is now barred from giving visas to foreign workers whose skills are readily available in Nigeria. The presidency added that “consideration shall only be given to a foreign professional, where it is certified by the appropriate authority that such expertise is not available in Nigeria.’’

5. Ministries, Departments and Agencies, MDAs would begin to engage indigenous professionals in the planning, design and execution of national security projects.