FG Initiated Executive Orders To Pull Nigeria Out of Recession – Fashola

The Minister of Power, Works and Housing, Mr Babatunde Fashola, said Executive Orders by the Federal Government and the Economic Recovery and Growth Plan (ERGP) were initiated to pull Nigeria out of recession.


Fashola said this when he received a delegation from the Association of Indigenous Construction Contractors of Nigeria (AICCON) in his office.


Mr Theodore Ogaziechi, the ministry’s Director of Information, who made the disclosure in a statement in Abuja on Tuesday, said the delegation was led by AICCON President, Mr Lekan Osifeso.


“To pull the nation out of recession, the Executive Orders were initiated along with the strategy of Economic Recovery and Growth Plan (ERGP) which ushered in robust economic diversification.


“It is with conscious effort that the President signed Executive Order 5, which zeros on Nigerian Content in Planning and Execution of Projects,” the statement quoted Fashola as saying.


He said the executive orders were to ensure the utilisation of the initiatives and resources of the nation’s endowments in the execution of projects.

The minister reiterated the Federal Government’s commitment to rebuild the Nigerian economy and make it one of the fastest growing in the world.


He called on members of AICCON to be proactive to make their activities globally competitive, adding that all companies registered according to Nigerian precept were indigenous.


Fashola urged the delegation to be more concerned and conscious about improving the capacity of its members, and also consider opportunities in equipment leasing.


He said post-construction maintenance could be an asset to the association, its members and the nation in the area of project planning and execution.


The minister said a bill from the executive was before the National Assembly to review upward from 15 to 50 per cent mobilisation fee payable to contractors.


Osifeso told the minister that the visit was to seek better patronage of indigenous contractors by creating a special category for verifiable indigenous companies by the Federal Government.


He said it was also to seek for approval of acceptance certificate during bidding processes as well as an enhanced mobilisation structure up to 40 per cent.


The AICCON president commended the minister for his efforts in ensuring that contractors were paid without lobbying.






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