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Executive Order 5 willredirect Nigerian economy

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By Emmanuel Elebeke

Abuja—The Federal Government will continue to boost the enabling environment for domestic and foreign direct investment so as to ensure effective participation of all Nigerians in the management of the economy.

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The Minister of Science and Technology, Dr. Ogbonnaya Onu said the Executive Order 5 will redirect Nigerian economy from a resource based to knowledge based economy.

The minister made the ascersion yesterday at the South-East dialogue on the Presidential Excusive Order 5 over the week at the Project Development institute(PRODA), Enugu.

He noted that Nigeria is geared toward redirecting her economy from being resourced-based to an inclusive path of knowledge and innovation-driven economy.

President Muhammadu Buhari on Thursday signed an Executive Order to improve his administration’s fight against corruption.

He added that the Executive order will also promote patriotism, love of the country and economic nationalism as a potent tool for a new social engineering of Nigeria.

He said: ‘’In the next 10 to 30 years, Nigeria companies and firms will be hopefully be competing with the very best in other parts of the world for projects and contracts in International tenders,’’ Dr. Onu added.

The minister said Nigerian Companies and firm would be given preference in the award of contracts in line with the Public Procurement Act, 2017.

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Dr. further explained that the overall intention is to give Nigerian companies and indigenous firms the opportunity to participate in national development like never before.

In furtherance to the implementation of the Executive Order, the Federal Government will give preference to indigenous professionals and firms in the design and execution of projects involving national security, Dr. Onu added.

Foreign experts, he explained, will only be engaged on condition that such expertise is not available. And in such situation, Nigerian professionals will be attached to understudy them. the minister added.

To enable the realisation of the objectives, Dr.Onu enjoined all Ministries, Departments and Agencies (MDAs)to take steps to encourage Nigerian professionals in the diaspora to return home and use their expertise to develop Nigeria.

The Ministry of Science and Technology, he added, will also establish Centres for Acquisition of Technology in the six geo-political zones of the country for promotion of technology utilization, technology and information system.

In the shortest possible time, the Minister, added, goods that are consumed in very large quantities will be manufactured locally.

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