Breaking News: Tinubu Bans Importation of Locally-Available Goods, Launches ‘Nigeria First’ Policy
In a bold move to bolster Nigeria’s economy and reduce overreliance on foreign products, President Bola Tinubu has ordered an immediate ban on the importation of goods that can be produced locally.
The President also issued a directive restricting the influx of expatriates into the country for jobs that Nigerian contractors and artisans can handle. Such foreign involvement, he said, will now require a strong justification and explicit approval from the Bureau of Public Procurement (BPP).
The announcement was made by the Minister of Information and National Orientation, Mohammed Idris, following Monday’s Federal Executive Council (FEC) meeting chaired by the President at the Presidential Villa in Abuja.
Idris said the move is part of a sweeping new policy framework known as the Renewed Hope Nigeria First Policy, which aims to prioritize Nigerian products, services, and expertise in public and private sector engagements.
“This is a landmark decision that marks a turning point in our economic strategy,” Idris said. “It is comparable to the America First doctrine introduced by former U.S. President Donald Trump. Our own version puts Nigeria and Nigerians first in all public procurement and business dealings.”
The minister noted that the policy is not just about economic protectionism but a strategic shift to empower local industries, create jobs, and stimulate domestic innovation.
Under the new framework, government contracts, tenders, and projects will now give top priority to Nigerian companies and professionals, unless a compelling reason exists to source foreign alternatives.
The Renewed Hope Nigeria First Policy is expected to have far-reaching implications across key sectors, including manufacturing, construction, oil and gas, agriculture, and ICT.
Analysts believe the policy could strengthen the naira, curb capital flight, and boost investor confidence in Nigerian businesses if implemented effectively.