Businesses have been urged to take greater advantage of opportunities created through state and local government budgets by understanding procurement processes, government policies, and budget priorities.
The Convener and Focal Person of the Good Governance Team Nigeria, Tunde Salman, gave the advice while speaking on Trade FM’s Breakfast Business Briefing on the theme, Subnational Budgets and Market Opportunities.
Salman said entrepreneurs seeking government contracts must first meet basic requirements, including tax compliance and proper business registration, before monitoring procurement opportunities advertised through official channels such as national newspapers and tender boards.
He noted that infrastructure spending by state governments on roads, water projects, and other capital projects can create significant opportunities for local manufacturers, contractors, and service providers if budgets are properly implemented.
According to him, governments should promote local content by setting aside a percentage of procurement opportunities for indigenous contractors to help strengthen local businesses and stimulate economic development.
He also encouraged businesses to engage state procurement agencies, monitor budget documents, and work with business associations and civil society organisations to better understand procurement processes and improve their competitiveness.
Salman dismissed the notion that government contracts are reserved for large companies, explaining that procurement opportunities exist at different financial thresholds, allowing small and medium-sized enterprises to compete for projects that match their capacity and expertise.
He stressed that entrepreneurs must understand the laws governing procurement, taxation, and budgeting, while continuously building their capacity to improve their chances of winning public contracts.
The governance expert also highlighted the importance of budget transparency, saying publicly accessible budget documents enable businesses and investors to plan effectively and monitor government spending.
He advised youth-led businesses and startups to explore opportunities across multiple sectors, noting that programmes benefiting young people are often spread across ministries responsible for agriculture, digital economy, women development, and other sectors.
Salman added that properly implemented state budgets can drive job creation, support local businesses, and improve household incomes through increased investment in infrastructure and public services.
He further called on contractors handling government projects to uphold high ethical standards, ensure value for money, and deliver quality services that justify public spending.
The Good Governance Team Nigeria convener concluded by calling for stronger collaboration among government, businesses, and civil society to promote open budgeting, transparent procurement, and sustainable economic growth.
He said state and local government budgets should be seen not merely as financial documents but as practical tools for driving investment, supporting enterprise development, creating jobs, and strengthening local economies.
