The Nigerian Army (NA) has renewed its commitment to collaborating with key stakeholders in the Defence and Security Industry to acquire necessary equipment for improved operational effectiveness.
Speaking at the Fourth Quarter 2023 Procurement Seminar at the Army War College Nigeria, Abuja, Brigadier General Onyema Nwachukwu, Director of Army Public Relations, revealed that the Chief of Army Staff (COAS), Lieutenant General Taoreed Lagbaja, emphasized the importance of partnering with credible stakeholders during the seminar.
The theme of the seminar, “Implications of the New Central Bank of Nigeria Foreign Exchange Policy on International Trade: Challenges for the Nigerian Army”, was chosen to address the impact of the Central Bank of Nigeria’s recent Foreign Exchange Policy on NA contracts that require foreign exchange.
Lieutenant General Lagbaja emphasized that government policies, especially the Foreign Exchange Policy, significantly affect the Nigerian Army’s ability to fulfill its constitutional mandate. He raised concerns about the unfavorable implications of the policy on NA contracts and highlighted the need for stakeholders to have a mutual understanding of the policy to mitigate its impact.
He expressed optimism that the seminar would foster a renewed commitment to establishing and maintaining an efficient procurement system aligning with international best practices.
Major General Adeyinka Adereti, the Director of Procurement, highlighted that the primary objective of the seminar is to enhance participants’ understanding of operational contract support within the evolving global context. He stressed the significance of public procurement policies and foreign exchange regulations in guiding contract awards and procurement, ultimately enhancing NA operations and capabilities.
He further emphasized the evolving global procurement landscape and the influence of the prevailing security climate on procurement processes, underscoring the necessity for organizing the seminar to address these changes.