FEC approves ‘Nigeria First’ policy to support local industry.

The Federal Executive Council (FEC) has approved a Nigeria First economic policy, which prioritises the use of locally produced goods and services in all government procurements.

Mohammed Idris, Nigeria’s Minister of Information and National Orientation, stated this on Monday, following the FEC meeting in Abuja.

Mohammed announced that an executive decree would soon reinforce the strategy.

“This policy means Nigeria comes first in all procurement processes; no foreign goods or devices that are already being produced locally will be procured without a clear and justified reason,” the minister said while briefing reporters at the State House.

“Now, this aims to build a new business culture that is bold and confident but also distinctly Nigerian. It wants to encourage the government to invest in our people and industries by changing how it spends money, procures goods, and builds our economy,” the minister continued.

“Going forward, Nigerian industry will be prioritised in all procurement processes.” Where local supply falls short, contracts will be tailored to increase domestic capacity. Contractors will no longer act as intermediaries in acquiring foreign items as local manufacturing is closed.”

According to him, the policy is consistent with President Tinubu’s goal of fostering industrialisation, protecting the economy from global shocks, and increasing domestic production in the country.

The FEC asked the Bureau of Public Procurement (BPP) to develop and enforce new standards that would benefit local manufacturers and service providers.

He stated, “The BPP has been promptly asked to update and implement procurement standards that emphasise locally produced goods and homegrown solutions. He also directed the BPP to develop a framework to ensure local content compliance in all government procurements.

“Number three, the BPP has been directed to maintain a register of high-quality Nigerian manufacturers and service providers who are regularly engaged by the Federal Government.” Number four, the BPP, has also been directed to deploy all procurement officials from MDAs; all procurement officers posted to MDAs would be reassigned to the Bureau of Public Procurement as a line agency without jeopardising efficiency’, the minister stated.