DICON was established by an Act of Parliament in 1964.
Sambo said at the occasion that the constitution of the committee followed President Goodluck Jonathan’s directive to review the operations of the corporation with particular reference to its effect on military procurement and protection of military equipment.
He charged members of the committee to perform their duties diligently to meet Federal Government’s objective of transforming the defence industry in Nigeria.
“With the calibre of membership, it is my belief that this important assignment will be effectively executed to yield result that will meet the expectation of Mr President towards the attainment of our national development objective and to transform the defence industry in Nigeria to a higher level in line with Mr. President’s transformation agenda.’’
Sambo stated that the committee, which would be chaired by him, would review the DICON Act to position it to effectively carry out its regulatory functions as well as ensure compliance with guidelines in the procurement of defence equipment.
According to him, the committee is to determine ways to encourage private sector participation, not just in the activities of DICON, but also in the enhancement of the production of defence equipment.
He said the committee would also propose a sustainable funding framework to enhance the development of defence equipment in Nigeria as well as determine ways to encourage patronage by neighbouring countries.
He said the Committee should also consider the need or otherwise of the establishment of the Defence Training Institute.
The committee has four weeks to conclude its assignment.
Its members are the Attorney-General of the Federation, Ministers of Finance, Interior, Trade and Investment, Defence, National Planning, Police Affairs, Aviation, Transport and Science and Technology.
Others are the Director-General, DICON and his counterparts in the Bureau of Public Procurement and the Infrastructure Concession and Regulatory Commission and the Commandant, Nigerian Defence Academy.
Representatives of the National Security Adviser, service chiefs and the Inspector-General of Police are also to serve as members, while office of the Secretary to the Government of the Federation would provide the secretariat.
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