On November 11, 2024, the National Assembly Joint Committee on Works, in collaboration with Optimum Horizon Limited, hosted the inaugural Local Contractors Summit, a landmark event aimed at fostering stronger ties between the government, local contractors, and construction stakeholders to empower indigenous players and advance Nigeria’s infrastructure.
Held under the theme, “Bridging Gaps and Building Partnerships,” the summit attracted a substantial turnout from legislators, industry leaders, and representatives from key engineering and regulatory bodies.
Hon. Akin Alabi, Chairman of the House of Representatives Committee on Works, delivered the keynote address, emphasizing the importance of partnerships that integrate local contractors into Nigeria’s construction sector.
“It is time we embrace our local contractors, not only as stakeholders but as partners in our journey toward national development,” Hon. Alabi stated while underlining the role of local content in promoting sustainable economic growth, job creation, and resource utilization within Nigeria.
The event saw the participation of Sen. Osita Nwugu, Deputy Minority Whip of the Senate, representing Sen. Barry Mpigi, Chairman of the Senate Committee on Works. Sen. Nwugu reaffirmed the National Assembly’s commitment to supporting local content initiatives and policies that would empower indigenous contractors.
Other notable attendees included representatives from the Nigerian Society of Engineers (NSE) and the Council for the Regulation of Engineering in Nigeria (COREN), underscoring a unified industry commitment to strengthening local contractors.
The summit brought together a broad array of contractors, including those specializing in construction, roads, buildings, and general contracting, reflecting the diverse needs of Nigeria’s infrastructure.
In an interactive session, local contractors engaged with the Joint Committee on Works to discuss their challenges and advocate for improved access to funding and local content support. Engineer Adekahunsi Tomiwa of Qtech emphasized the importance of trust and branding for Nigerian contractors to enhance their competitiveness on a global level.
A key finance panel featured representatives from Infracorp, major commercial banks, and the Federal Inland Revenue Service (FIRS), who discussed funding solutions for local contractors.
The FIRS explained how the new tax reform bill could benefit contractors, streamlining processes and creating a more favorable business environment. Panelists also explored innovative funding models aimed at expanding capital access, emphasizing the need for a supportive financial framework for indigenous contractors working on Nigeria’s infrastructure.
Adding to the vision for the summit, Ayobami Adekojo, Chief Strategist of Optimum Horizon, stated, “This summit will provide the National Assembly with insights to push forward legislation that will be beneficial not only to contractors but to the economy as a whole.”
Adekojo also announced plans to make the summit an annual event, underscoring the commitment to maintaining an ongoing platform for dialogue and actionable steps in strengthening Nigeria’s construction sector.
As Hon. Alabi concluded, “Let us work diligently to bridge the gaps and build the partnerships that will drive our construction industry forward.”
His call to action echoed the summit’s central message — that Nigeria’s construction sector can thrive through active partnerships that prioritize local talent, trust, and resources.
and then