The Federal Executive Council (FEC) has approved a policy framework codenamed Renewed Hope Nigeria First Policy
The policy is to prioritize Nigerian businesses and manufacturers in all government procurement processes.
The Minister of Information and National Orientation, Mohammed Idris, disclosed this to State House Correspondents after the council meeting held on Monday,
The meeting was presided over by President Bola Ahmed Tinubu at the State House, Abuja.
Idris explained that the policy, soon to be backed by an executive order, is designed to put Nigeria at the heart of all economic decisions, especially in procurement, trade, and industrial policy.
The policy mandates the Bureau of Public Enterprises (BPE) to revise its procurement guidelines to ensure that local producers are given priority.
According to him, “President Bola Ahmed Tinubu has proposed that we will no longer just sit there and allow importation to come into this country where there is the capacity for production of any of these commodities locally.
“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 Bureau of Public Procurement, the BPP, has been immediately directed to revise and enforce procurement guidelines, to prioritise locally made goods and homegrown solutions.
“It has also been directed to create what is called a local content compliance framework for all government procurements. The BPP has also been directed to maintain a register of high-quality Nigerian manufacturers and service providers regularly engaged by the federal government. The BPP has also been directed to deploy all procurement officers from the MDAS.
The Minister also said that any breach of the Nigeria First guidelines will attract sanctions, including cancellation of contracts and other penalties.
“The Renewed Hope Nigeria First Policy will not only strengthen local industries but also create jobs and reduce Nigeria’s over-reliance on imports. It’s about bold leadership and investing in our people”
The Minister further cited that the provision of quota allocations under the sugar master plan should take into consideration participants’ backward integration plans and investment in Nigeria, and ensure compliance with the Master Plan.
He added that the council directed the Attorney-General of the Federation to prepare the necessary legal instruments to give the policy full executive backing.
“To the Attorney General of the Federation, prepare an Executive Order to give full legal effect to the resolutions of the federal executive council, now what this seeks to do is to domesticate our processes”.
The move is seen as part of the Tinubu administration’s broader efforts to boost industrialisation, encourage local production, and safeguard the economy against external shocks.
“Let this day mark the beginning of a new era of local enterprise, self belief and national pride,” the Minister added.
CREDIT:VON
