Tinubu Approves Implementation of Nigeria First Policy: A New Era for Local Industries?

Tinubu

President Bola Ahmed Tinubu has approved the implementation of the Nigeria First Policy, a groundbreaking initiative designed to prioritize local content and boost domestic economic activities. This significant development was announced in a statement on Wednesday, May 14, 2025, and marks a crucial step towards realizing the president’s Renewed Hope Agenda.

What Does the Policy Entail?

The Nigeria First Policy introduces revised procurement thresholds for Ministries, Departments, and Agencies (MDAs), emphasizing the importance of promoting Nigerian-made products and services in public procurement processes. According to the Bureau of Public Procurement (BPP), this move aims to improve efficiency, transparency, and accountability in the award and execution of public contracts.

Economic Impact

The Minister of State for Industry, Trade and Investment, John Enoh, revealed that the policy is expected to generate around N3 trillion annually and contribute 20% to the growth of the manufacturing sector in Nigeria over the next three years. This could lead to the creation of over 500,000 jobs and reduce imports by 30%.

Implementation Guidelines

The Director-General of the BPP, Dr. Adebowale Adedokun, will provide detailed implementation guidelines for the policy. The BPP will also maintain a comprehensive database of high-quality Nigerian suppliers and ensure compliance with local content requirements.

A Boost for Local Industries

The Nigeria First Policy is a bold move towards empowering local industries and reducing dependence on foreign imports. By prioritizing local content, the government aims to drive job creation, industrial growth, and sustainable economic development. This policy aligns with the administration’s economic strategy, including subsidy removals and efforts to restore investor confidence.

Reaction from Nigerians in Diaspora

The Chairman and CEO of the Nigerians in Diaspora Commission (NiDCOM), Hon. Abike Dabiri-Erewa, has appealed to Nigerians living abroad to support the Nigeria First Policy. She emphasized the importance of collective participation in advancing national development and creating a lasting impact.

A New Chapter for Nigeria’s Economy?

As the Nigeria First Policy takes effect, it’s clear that the government is committed to transforming the country’s economy. With its focus on local content and industrial growth, this policy has the potential to reshape Nigeria’s economic landscape and create new opportunities for citizens. Only time will tell if this initiative will yield the desired results, but one thing is certain – the fate of Nigeria’s economy hangs in the balance.

Source: Africa Publicity