President Bola Ahmed Tinubu has placed a ban on the importation of foreign goods by Ministries, Departments, and Agencies on goods or services available in the country, even without an approval or clearance from the Bureau of Public Procurement.
Mr Tinubu announced this on Monday at the Presidential Villa in Abuja through its Minister of Information and National Orientation, Mohammed Idris.
Mr Idris said, “The Nigeria First Policy places our country at the centre of public procurement and business activity, with a strong focus on empowering local industries. It is designed to foster a new business culture that is bold, confident, and uniquely Nigerian,”.
The new policy dubbed the ‘Renewed Hope Nigeria First Policy’ is with the goal of strengthening the domestic economy, promoting local content, and reducing Nigeria’s dependence on imports.
The minister said that the new policy mirrored the U.S. “America First Policy.’’
Nevertheless, he warned that “all MDAs must review and resubmit their procurement plans in line with the new policy,” and violations or failure to comply would attract disciplinary action and one can be at risk of cancellation of future procurement processes.
He made reference to Nigeria’s continuous importation of sugar in spite of having a functioning Sugar Council and several domestic producers as a prime example of inefficiency the policy seeks to eliminate.
He stated, “Government money must now work for the Nigerian people. And contractors will no longer be allowed to act as mere intermediaries importing foreign goods while Nigerian factories remain underutilised”
The Nigeria First Policy is the latest of the many economic reforms under Mr Tinubu’s administration, which include the removal of fuel subsidy and naira floating.