Experts last night expressed optimism about the major policy shift prioritising Nigerian businesses, goods, and services in all government-related economic activities.
The new approach, approved by the Federal Executive Council (FEC), was announced yesterday by the Minister of Information and National Orientation, Mohammed Idris.
Speaking to reporters at Aso Villa after the FEC meeting, Idris said: “This new direction places Nigeria, not foreign companies or imports, at the centre of our national development strategy.
“It seeks to foster a new business culture that is bold, confident, and unapologetically Nigerian.”
He quoted President Bola Ahmed Tinubu as saying: “We must start producing what we consume and end importation of what we have.”
They experts said the new policy would have considerable multiplier effects on several facets of the economy, including employment creation, foreign exchange accretion and stability, general economic growth and social stability, among others. (See box)
According to Idris, the Nigeria First policy will be implemented through an executive order being prepared by the Office of the Attorney-General of the Federation.
The policy is designed to overhaul how the Federal Government spends public funds, especially in procurement and contract awards.
Under the new policy, all ministries, departments and agencies (MDAs) must prioritise locally-made goods and services in their procurement processes.
“Non-compliance will attract sanctions, including the cancellation of procurement processes and disciplinary actions against responsible officers,” Idris said.
Sourcing foreign alternatives for products or services already available in Nigeria will now require written justification and a formal waiver from the Bureau of Public Procurement (BPP).
Idris outlined decisions approved by the Council to give immediate effect to the policy. These include:
• Revision of procurement guidelines: The BPP has been directed to urgently revise and enforce procurement rules to prioritise local content, including the creation of a local content compliance framework.
• Register of Nigerian providers: The BPP will maintain a register of high-quality Nigerian manufacturers and service providers who are regularly engaged by the federal government.
• Centralisation of procurement officers: All procurement officers posted to MDAs will be recalled and redeployed under the direct control of the BPP to ensure strict adherence to the new policy, without compromising efficiency.
• Mandatory audits: MDAs must immediately audit all current procurement plans and submit revised versions in line with the new directives.
• Sanctions for non-compliance: Breaches of the new policy will attract serious sanctions, including cancellation of procurement processes and disciplinary action against officers responsible for such.
Idris added that where viable local options do not exist, the policy requires that contracts must include provisions for technology transfer, local production, or skills development.
The minister cited the sugar industry, where, despite local capacity, Nigeria continues to import vast quantities.
Under the new directive, such practices would no longer be acceptable.
“The provision of quota allocations under the National Sugar Master Plan will now take into consideration each participant’s investment in backward integration and local production capacity,” Idris explained.
The ultimate goal of the policy, according to the minister, is to build capacity in domestic industries by ensuring that Nigerian firms are no longer sidelined in favour of foreign suppliers, especially in sectors where local alternatives are available.
“This is not just a policy shift, it is a reorientation of national priorities,” Idris said.
“Going forward, Nigerian industries will take precedence in all procurement processes.
“Where local supply falls short, contracts will be structured to build capacity domestically.
“The days when contractors acted merely as intermediaries importing foreign goods while local factories shut down are over.
“President Tinubu wants Nigeria to stop sitting on the sidelines and start producing what we consume.”
The move is part of the broader Renewed Hope Agenda championed by the Tinubu Administration, which emphasises economic resilience, job creation, and inclusive growth driven by local innovation and industrialisation.
The minister said the FEC would closely monitor the implementation of the new directive.
He believes it marks a turning point in how the government engages with the private sector and develops the economy.
