Nigeria First Policy Approved by FEC to Boost Local Industry

Nigeria First Policy Approved by FEC to Boost Local Industry

Abuja, Nigeria – In a landmark move to promote self-reliance and national pride, the Federal Executive Council (FEC), led by President Bola Ahmed Tinubu, has approved the “Nigeria First” policy for federal spending and procurement. The policy mandates that goods produced in Nigeria will take priority in all government procurement processes.The new policy, announced by Mohammed Idris, FNIPR, Honourable Minister of Information and National Orientation, aims to empower local industries by ensuring that all relevant institutions prioritize locally produced goods. Any deviation from this directive will require strong justification and a written waiver from the Bureau of Public Procurement (BPP). Additionally, the policy includes provisions for local capacity building, skills development, and robust sanctions for violations.The Attorney General of the Federation has been directed to give full legal backing to the policy’s resolutions. Minister Idris urged Nigerian contractors and suppliers to familiarize themselves with the policy, emphasizing the significant opportunities it will create for local businesses.”This is what the Renewed Hope agenda is all about: putting Nigeria first and creating opportunities for all Nigerians,” Idris stated, signaling the beginning of a new era for local enterprise and economic growth in the country.