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Abuja – Nigeria’s government is taking a bold step to boost its economy by prioritizing locally made products. A new Nigeria industrialisation policy, named the ‘Renewed Hope Nigeria First Policy,’ has been approved. This plan directs all government agencies to purchase Nigerian goods and services first. It effectively stops the government from buying foreign items if a suitable Nigerian alternative exists, aiming to strengthen local businesses and create jobs.
President Bola Tinubu approved this significant policy shift. Minister of Information and National Orientation, Mohammed Idris, announced the plan on May 5, 2025. He explained the policy ensures “Nigeria is put at the centre” of government spending. An Executive Order from the President is expected soon to make the policy law.
Why This New Policy Matters
The core idea is simple: government money should benefit Nigerian workers and companies. The ‘Renewed Hope Nigeria First Policy’ aims to:
- Give a major boost to local factories and service providers.
- Reduce Nigeria’s dependence on imported goods.
- Generate new jobs for Nigerians.
- Build a stronger, more self-sufficient economy.
How the Nigeria Industrialisation Policy Works
The Bureau of Public Procurement (BPP) is tasked with making this policy work. Here’s how:
- Buy Nigerian First: The BPP will enforce new rules making Nigerian products the priority for all government purchases.
- Local Supplier List: A database will track reliable Nigerian businesses capable of meeting government needs.
- Waivers Needed: Government agencies can only buy foreign goods (if available locally) after getting specific permission (a waiver) from the BPP.
- Skills Transfer: If foreign goods must be imported, the contracts will require the foreign company to share technology or help build Nigerian production capabilities.
- Strict Enforcement: Agencies must follow these rules. Failure to comply could lead to cancelled contracts or penalties for officials involved.
Expected Impact: More Jobs, Stronger Industries
This Nigeria industrialisation policy is expected to create real change. By demanding government agencies buy local, the plan intends to fill Nigerian factories with orders, leading to more hiring and economic activity. Minister Idris stressed that contractors should no longer just act as middlemen for foreign goods while local industries struggle. The government sees this as a key strategy for sustainable growth and putting Nigeria’s economic future first.
By Abdullah Korede
