Kwara champions local business empowerment to boost economy
In a significant move to bolster its economy, the Kwara State Government has reinforced its commitment to empowering state-owned enterprises. During a recent visit to HHL Insurance Brokers Limited, QS Raheem Abdulbaki, General Manager of the Kwara State Public Procurement Agency (KWPPA), emphasized the agency’s ongoing dedication to promoting local businesses and enhancing economic self-sufficiency.
Abdulbaki articulated that the KWPPA has been actively working to ensure that local content is prioritized in state contracts over the past four years, yielding positive results. “Our structured framework guarantees that every contract awarded benefits Kwarans, leading to substantial financial returns and greater employment opportunities,” he stated, highlighting the importance of fostering local engagement in government projects.
A key highlight of the visit was Abdulbaki’s announcement regarding a major policy change: the removal of the ₦10 million cap on insurance bonds within the state. “This crucial decision reflects Governor AbdulRahman AbdulRazaq’s understanding that local businesses need unrestricted access to funding to thrive,” he noted, commending the governor for his consistent support of the agency’s initiatives.
The Acting Managing Director of HHL Insurance Brokers Limited, Mallam Shaaba Taofeeq, expressed his gratitude for the government’s focus on local industry. He described the visit as timely and reaffirmed his company’s commitment to collaborating with stakeholders to achieve the government’s objectives. “We have faced challenges in the past, but with support from KWPPA, we are confident in our abilities to navigate these obstacles,” Taofeeq stated.
He further assured the state government of HHL Insurance Brokers Limited’s readiness to handle all insurance obligations both within Kwara State and beyond. “This renewed commitment to local content will undoubtedly stimulate economic growth across the region,” he asserted.
The gathering of senior officials from both organizations underscored the government’s strategic emphasis on local business empowerment, marking it as a vital component of Kwara State’s sustainable economic development agenda.
