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Lawmakers Solicit Empowering Indigenous Contractors In Construction Industry

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By Gloria Ikibah
Members of the National Assembly have called on the need to empower indigenous contractors in the construction industry to boost national development.
Lawmakers made this call a summit organised by the Senate and House of Representatives Committees on Works on Monday in Abuja, with the theme: “Empowering Local Contractors for National Development: Bridging Gaps and Building Partnerships.”
In his remarks the Chairman, Senate Committee on Works, Senator Barinada Mpigi, who stressed the importance of empowering indigenous contractors, highlighted the challenges local contractors face, including limited financing, inadequate equipment, and insecurity.
Mpigi who who decried that indigenous contractors have not been given opportunities over the years in the nation’s infrastructural sector, suggested innovative solutions like tokenization of assets and tax credits to bridge the financial gap.
He said, “Our local contractors face significant challenges that hinder their potential to contribute to national goals. Challenges such as limited access to long-term financing, inadequate equipment, lack of insurance facilities, and issues of insecurity have long been obstacles to their growth and success.
“Globally, other nations have implemented strategic measures to support their local contractors. From government financing and public-private partnerships to streamlined procurement processes, these countries have recognised the importance of providing practical solutions to empower local businesses. We must follow suit by promoting fair procurement processes, engaging with local communities, and prioritising environmental sustainability, ensuring that our infrastructure projects are built with the future in mind.”
To bridge the financial gap between local contractors and their foreign counterparts, he urged the Securities and Exchange Commission to step in by exploring innovative approaches, such as the tokenisation of assets.
“This process allows local contractors to convert their assets into digital tokens, facilitating access to funds from a broader pool of investors. By unlocking these new financing opportunities, tokenization can empower local contractors to raise capital, enable fractional ownership, and improve liquidity in the sector.
“The Federal Inland Revenue Service can play a crucial role in supporting our local contractors by introducing easier access to tax credits, which will ease their financial burden. Such incentives can encourage investment in the sector, providing them with much-needed relief and fostering growth.,” he added.
Also Speaking, Chairman, House Committee on Works, Rep. Akin Alabi, stressed the need for partnerships prioritizing local contractors.
He said, “Today, we gather with a shared purpose to strengthen the bridges between the government, stakeholders and our local contractors and construction companies, fostering partnerships that will empower our indigenous industries and transform our country’s infrastructure.
“Nigeria has a diverse landscape which holds immense potential for growth and development. However, to truly unlock these potentials, we need an approach that maximises local resources, skills and talents. It is time to make the call to embrace our local contractors not only as stakeholders but as partners in our journey to national development.
“We need a construction industry that is driven by local content, benefitting our people and fortifying our economy. Today’s summit provides an opportunity to address challenges, explore solutions and deepen collaborations between indigenous contractors, construction companies and key policymakers.”
In her goodwill message at the summit, the President, Nigerian Society of Engineers, Margaret Oguntala, highlighted the importance of collaboration among the various stakeholders in the country’s infrastructural sector.
Represented by the President, Association of Consulting Engineering in Nigeria, Kam-Salem Bukar, Oguntala called attention to the principles of Executive Order 5 signed by former President, Muhammadu Buhari.
“As policymakers, legislatures are tasked with crafting laws that empower local content and infrastructure initiatives. By reinforcing the principles of Executive Order 5, they can ensure that Ministries Departments and Agencies prioritise Nigerian professionals and resources in public procurement,” she said.
Apart from local contractors, the NSE President also identified professional consulting engineers and engineering regulatory bodies as important partners with significant input in the infrastructural arena.
Oguntala while commending the organisers of the event, called for regular dialogue, training and capacity building as well as regulatory oversight to promote Nigeria’s infrastructural development.
The summit aimed to address challenges, explore solutions, and deepen collaborations between indigenous contractors, construction companies, and policymakers.
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Court Remands Refinery MD In Kuje Correctional Centre Over Alleged $35m Scam

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The Economic and Financial Crimes Commission, on Monday, December 23, 2024, arraigned the Managing Director of Atlantic International Refinery and Petrochemical Limited, Akindele Akintoye at the Federal High Court, Abuja, over an alleged $35 million fraud.

He was arraigned before Justice Emeka Nwite on charges bordering on money laundering and contract fraud.

On October 31, 2024, Akintoye was arrested by the EFCC and detained at its holding facility in Abuja.

According to a tweet via the commission’s X handle on Wednesday, Akintoye allegedly collected $35m from the Nigeria Content Development and Monitoring Board to build a 2,000 barrel-per-day refinery, jetty, gas plant, among others, at the Brass Free Trade Zone, Okpoama community in Brass Local Government Area of Bayelsa State.

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He “allegedly mooted the idea of the project to the Board and the NCDMB embraced it with a counterpart funding to the tune of $35million. He allegedly received the funds through the bank account of Atlantic International Refinery and Petrochemical Limited and funneled the funds into four of his companies: Platform Capital Investment Partners, Duport Midstream Company Ltd., Puisance Afrique Dynamics Ltd., Adamantine Petrochemical & Refinery Ltd and Bureau de Change outlets,” the tweet stated.

At the court sitting on Monday, EFCC counsel, Ekele Iheanacho, told the court that the defendant faced a four counts filed on November 19, 2024, and requested that the charges be read to the defendant.

One of the counts read, “That you, Akindele Akintoye, and Platform Capital Investment Partners Limited, between December 2020 and February 2021, within the jurisdiction of this Honourable Court, indirectly retained the sum of $16,006,000 (Sixteen Million, Six Thousand United States Dollars), being part of the funds dishonestly converted from the money paid by the NCDMB to Atlantic International Refinery and Petrochemical Limited as investment, knowing the said sum constituted proceeds of unlawful activity, thereby committing an offence contrary to Section 15(2)(d) of the Money Laundering (Prohibition) Act, 2011 (as amended by Act No. 1 of 2012) and punishable under Section 15(3) of the same Act.”

The EFCC noted that Akintoye pleaded “not guilty” after the charges were read to him. Thereafter, the anti-graft agency’s counsel requested the court to remand Akintoye in a correctional centre, and then sought a trial date.

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However, the defendant’s counsel, Emmanuel Esadio applied for bail, stating that the application was filed and served on the prosecution.

In his response, Justice Nwite stressed the importance of allowing the prosecution to respond to the bail application, noting that the law requires a 48-hour period before a bail application can be considered.

“Justice is tripartite, to the accused, the defendant, and society. I cannot shut out the prosecution, they must be heard,” the Judge said.

“Esadio further requested that the defendant be remanded in EFCC custody, citing his client’s health issues and the need for easy access to legal counsel.

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“But Iheanacho opposed the request, arguing that the EFCC lacked adequate facilities and that Akintoye had demonstrated untrustworthiness, including allegedly retrieving his international passport after claiming it was in court custody,” the tweet read.

“The defendant cannot be trusted. He has shown tendencies that suggest he may commit another crime. Additionally, there is no medical evidence before the court to support claims of ill health,” Iheanacho submitted.

After considering the arguments, the judge ordered Akintoye’s remand at the Kuje Correctional Centre and adjourned the matter till December 31, 2024, for hearing on the bail application.

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Terrorists reportedly bomb Nigerian army base

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By Kayode Sanni-Arewa

Suspected Boko Haram terrorists have reportedly bombed a Nigerian military base in Wajiroko, located in the Damboa Local Government Area of Borno State.

The attack occurred on Christmas Eve December 24 2024, when multiple armed drones, carrying locally fabricated grenades, targeted the Forward Operating Base.

The strike injured no fewer than six soldiers, who were quickly given first aid at the scene and are awaiting further medical treatment.

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The assault began with gunfire from the terrorists, who launched a brief attack that was repelled by the soldiers.

However, shortly afterward, drones carrying explosives struck the base again.

According to military sources, up to four different armed drones were observed during the attack.

A report also revealed that a military gun truck was damaged during the strike.

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Boko Haram has been a persistent threat in Northeastern Nigeria for nearly two decades, causing loss of life and displacing millions.

The Nigerian military has repeatedly claimed success in combating the insurgents, though the group remains a formidable force, continuing to carry out attacks across the region.

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Christmas disaster: Plane crash claims dozens

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By Kayode Sanni-Arewa

Dozens have died after a passenger plane crashed on Christmas Day.

The scene of the crash in Kazakhstan. Emergency Situations of Kazakhstan/Anadolu via Getty
According to the BBC, the Azerbaijan Airlines flight had been travelling from the Azerbaijani capital Baku to Grozny in Russia when it caught fire as it made an emergency landing near Aktau in Kazakhstan.

The outlet, citing local officials, reported that dozens of people had been killed in the crash.

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Per CNN, at least 28 people survived the crash, including two children. Authorities also told the outlet that the survivors had been taken to hospital.

The Associated Press reported that Kazakhstan’s Emergency Ministry confirmed in a Telegram statement that 67 people, including five crew, were on board the plane.

PEOPLE has contacted Kazakhstan’s Emergency Ministry, Azerbaijan Airlines and The Ministry of Digital Development and Transportation of the Republic of Azerbaijan for comment.

In an initial statement shared on X (formerly known as Twitter) and translated to English, the airline wrote, “According to preliminary information, the passengers included 37 Azerbaijani citizens, 16 Russian citizens, 6 Kazakh citizens, and 3 Kyrgyz citizens.”

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“There were 67 people on board, including 62 passengers and 5 crew members. There were no children among the passengers, and information about the injured will be provided shortly,” they added.

“According to the information, there are survivors who are receiving initial medical assistance. Contacts are being established with the Kazakh authorities, and the necessary operational support is being provided by Kazakhstan’s emergency rescue agencies at the scene.

According to CNN and Reuters, a video showed the aircraft circling before hitting the ground and bursting into flames. Passengers covered in blood were also seen coming out of the wreckage shortly after.

In a statement obtained by PEOPLE, a spokesperson for the plane’s manufacturer Embraer said, “We are saddened to learn of the incident today near Aktau, Kazakhstan. Further updates will be provided as soon as more information is confirmed and Embraer is authorized to release. We stand ready to assist all relevant authorities. Our concerns and sympathy go to the families, friends, colleagues and loved ones affected by the accident.”

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