Prioritizing Domestic Products and Services is now Endorsed by Tinubu

Bola Tinubu's "Renewed Hope, Nigeria First" Policy Takes Off

Prioritizing Domestic Products and Services is now Endorsed by Tinubu

Welcome to the new era! The Renewed Hope, Nigeria First policy, masterminded by President Bola Tinubu, dictates that all federal ministries, departments, and agencies (MDAs) must prioritize Nigerian goods, services, and know-how when spending taxpayer money.

This policy is a game-changer, focusing on supporting local industries and dumping dependency on imported goods. Mohammed Idris, the Minister of Information and National Orientation, dropped this bombshell during a press conference after the Federal Executive Council (FEC) meeting at the Aso Rock Villa in Abuja.

Idris detailed that this directive is all about keeping Nigeria at the heart of every single naira the government spends. "We're positioning Nigeria at the center of every naira the government spends," Idris emphasized.

Within days, an Executive Order will be issued to add the policy's muscle, ensuring its implementation across all government activities.

This policy is a Nigerian version of the "America First" strategy of former US President Donald Trump.

A priority of the Renewed Hope, Nigeria First initiative is promoting local content, fostering economic growth, and empowering Nigerian industries.

Idris made it clear that going forward, any government business must put Nigerians first. As long as a local solution is out there, there's no point in importing unnecessarily.

To avoid forking out for foreign goods or services when homegrown options exist, government entities must refrain from such purchases. The Minister of Justice has been tasked with drafting an Executive Order to enforce this rule, legally mandating government investments in Nigerian industries.

Under the new policy, the Bureau of Public Procurement (BPP) is in charge of revising and enforcing guidelines that support local manufacturers and service providers. This role includes establishing a Local Content Compliance Framework to maintain a list of top-quality Nigerian suppliers regularly engaged by the government, and barring MDAs from procuring foreign goods or services unless a written waiver is issued by the BPP.

Moreover, contracts will include clauses for technology transfer, local production, or skills development when local options are non-existent. Essentially, this policy follows the quota rules in the Sugar Master Plan by rewarding firms for investing in backward integration.

MDAs were issued an immediate deadline to audit their 2025 procurement plans and resubmit versions in line with the new policy standards. In other words, no more foreign goods or services will get the green light without a legitimate reason or a BPP waiver.

"The Attorney-General of the Federation, Lateef Fagbemi, has been tasked with drafting an Executive Order that will encapsulate FEC resolutions in legislation," Idris concluded.