Optimum Horizon Limited has announced that the Local Contractors Summit, held on November 11, 2024, in partnership with the National Assembly Joint Committee on Works, will now become an annual event. Ayobami Adekojo, Chief Strategist of Optimum Horizon, revealed the plan at the inaugural summit, highlighting the long-term vision for the event to drive legislative reforms, foster collaboration, and develop an actionable roadmap to support Nigerian contractors.
Held under the theme “Bridging Gaps and Building Partnerships,” the summit gathered key figures from the government, local contractors, and industry stakeholders to address critical issues in the construction sector, including funding access, regulatory support, and local content promotion. Adekojo underscored the importance of making the summit an annual platform for dialogue, which would allow contractors a consistent opportunity to engage with policymakers and advocate for structural reforms that strengthen indigenous participation in the industry.
“This summit will provide the National Assembly with insights to push forward legislation that benefits contractors and supports the broader Nigerian economy,” Adekojo stated. He also announced that each year, the summit would produce a working document — a comprehensive blueprint for the construction sector — crafted in partnership with contractors, government officials, and industry leaders. “The working document will not only reflect the needs and voices of local contractors but will also outline actionable steps that all stakeholders can take to improve Nigeria’s infrastructure landscape,” he added.
The 2024 summit attracted a wide range of attendees, including specialists in construction, roadworks, and building, alongside delegates from the Nigerian Society of Engineers (NSE) and the Council for the Regulation of Engineering in Nigeria (COREN). A dedicated finance panel, featuring representatives from Infracorp, commercial banks, and the Federal Inland Revenue Service (FIRS), discussed financial solutions for contractors, including how the new tax reform bill could streamline tax processes for the industry.
With Optimum Horizon’s commitment to an annual summit and the creation of a living working document, stakeholders are optimistic about the potential for ongoing progress in supporting local contractors. This yearly summit promises to be a cornerstone in building a resilient, self-reliant construction sector that empowers Nigerian contractors, fuels economic growth, and strengthens the nation’s infrastructure.