To boost Nigeria’s economy and support local content, President Bola Tinubu’s administration has banned MDAs from buying foreign goods or services available locally without a waiver from the Bureau of Public Procurement (BPP).
On Monday, the Federal Executive Council (FEC) approved the new policy framework aimed at prioritising national interests in public procurement and business activities, with a focus on empowering local industries and reducing reliance on foreign imports.
The policy, referred to as the Renewed Hope Nigeria First Policy, aims to cultivate a business culture characterized by boldness, confidence, and a strong sense of Nigerian identity.
During a briefing with State House correspondents following the fifth cabinet meeting in 2025, presided over by President Bola Tinubu at the Council Chamber of the Presidential Villa, Abuja, the Minister of Information and National Orientation, Mohammed Idris, elaborated that the policy is intended to promote homegrown products.
Describing the policy as a significant shift in Nigeria’s economic strategy, the minister likened it to U.S. President Donald Trump’s “America First” doctrine.
He stated, “This policy seeks to foster a new business culture that is bold, confident, and distinctly Nigerian. It aims to ensure that government investments directly benefit our people and industries by redefining our spending, procurement, and economic development practices.”
Idris further mentioned that the Attorney General of the Federation (AGF) and Minister of Justice has been instructed to draft an Executive Order to provide full legal authority to the new framework.
He added, “The Nigeria First policy is anticipated to become the foundation of the administration’s economic strategy, particularly as the government advances its industrialization agenda and import-substitution objectives.”
