In a bid to Improve Nigeria’s economic stance President Tinubu’s administration has announced a new ‘Nigeria First Policy’ which will prioritise local content in public procurement, domestic input in contract award and management, as well as self-reliance in investment decisions, business operations and consumption habits.
While the policy is not so new as past governments have tried to implement self reliance in its consumption and production, the culture of dependency and importation remains persistent.
On May 5, 2025, President Bola Tinubu announced a plan to issue an Executive Order which would ensure that Nigerians patronise goods and services that are produced in Nigeria.
However, the Minister of State for Industry, Trade and Investment, John Enoh on Monday said the economic value of implementing the “Nigeria First” policy is about ₦3 trillion Naira annually.
He stated this while briefing State House Correspondents shortly after the Federal Executive Council meeting at the State House Abuja.
Enoh said the policy would also contribute about 20% to the growth of the manufacturing sector in Nigeria in the next 3 years.
He further explained that over five hundred thousand jobs would be created through the policy in the short term and lead to a reduction of about 30% percent of imports.
Meanwhile, the Minister of Information and National Orientation, Mohammed Idris, said President Tinubu and the Federal Executive Council have directed the Bureau for Public Procurement to communicate the new threshold for procurement of goods and services.
Idris said FEC also noted the need for the private sector players to participate more actively in Nigeria’s economic growth, and directed Ministries, Departments and Agencies to deepen their collaboration with the private sector especially in terms of infrastructure development.
