Ekeh: Nigeria First Policy Major Protection for Creatively Ambitious Entrepreneurs
Emma Okonji Chairman of the Zinox Group, Leo Stan Ekeh, argued that the Nigeria First Policy represented a major protection for creatively ambitious Nigerian entrepreneurs. He stated this during a
Leo Stan Ekeh, Chairman of the Zinox Group, emphasized during the Nigerian Bar Association’s 66th Annual General Conference that the Nigeria First Policy serves as a crucial safeguard for Nigerian entrepreneurs with creative ambitions. This perspective was presented in a session discussing 'E-Commerce and Procurement: Transforming Public Contracting through Digital Systems, Transparency and Local Capacity Development'.
Ekeh underscored that Nigeria's aspiration for a sustainable digital economy hinges on the avoidance of consistently sidelining local businesses in favor of foreign alternatives. He championed a policy framework obliging government Ministries, Departments and Agencies (MDAs) to preferentially select locally produced goods, services, and innovations when local capacity exists, all while upholding standards essential for global competitiveness.
Ekeh posited that the benefits of the Nigeria First Policy extend further than mere protection for local businesses. It can establish a stable domestic market for Nigerian innovators, diminish excessive dependence on imported technology, and funnel substantial economic value back into the country. By providing homegrown businesses with enhanced opportunities in public procurement, government spending can stimulate investment, innovation, skills development, and sustainable job creation, according to Ekeh.
The dialogue also explored the growing role of digital systems in public contracting. Ekeh highlighted that e-procurement platforms, government cloud infrastructure, data protection measures, and digital audit trails are becoming crucial components in enhancing transparency, accountability, and efficiency. These systems serve to minimize manipulation risks while establishing clearer records of procurement decisions and activities.
Legal experts noted that the transformation also requires legal professionals to better understand the convergence of technology, procurement, and regulation. They must adeptly draft contracts, ensure compliance, manage procurement risks, and navigate evolving mechanisms for addressing procurement dispute resolutions.
A significant challenge that surfaced in the conversation was enforcement. Ekeh stressed that while policies can establish a preference for local capacity, the actual impact hinges on compliance. He advocated for stronger enforcement mechanisms, including penalties from the Bureau of Public Procurement against entities that fail to adhere to procurement regulations.
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