•To accelerate industrial growth, boost economy by N3trn annually
•••Contribute 20% to manufacturing growth
•••Reduce imports by 30%, create 500,000 jobs
The Federal Government has highlighted the economic value to be derived from the ‘Nigeria First’ procurement policy recently announced by President Bola Tinubu, noting that it could accelerate industrial growth and contribute about N3 trillion to the national economy annually.
Minister of State for Industry, Trade and Investment, John Enoh, who stated this at a media briefing, also said that the policy will boost the growth of the manufacturing sector by 20 percent in the next 3 years, reduce imports by 30 percent and create more than 500,000 jobs in the short term.
“The economic value of implementing the “Nigeria First” policy is about N3 trillion annually, and contribute about 20% to the growth of the manufacturing sector in Nigeria in the next 3 years. Over five hundred thousand jobs would be created through the policy in the short term and lead to a reduction of about 30% percent of imports,” he stated.
Also speaking on the potential benefits of the policy in a statement, Executive Vice Chairman of the National Agency for Science and Engineering Infrastructure (NASENI), Khalil Halilu, described the policy as a game-changer for local manufacturing, noting that it could accelerate Nigeria’s industrial revolution and unlock massive opportunities for indigenous entrepreneurs.
Halilu said the policy could significantly increase demand for goods and services produced by Nigerian companies.
“Government is a major buyer of goods and services. This move will translate into increased patronage of Nigerian-made products across key sectors,” Halilu said.
According to him, NASENI, which is mandated to drive Nigeria’s science and engineering infrastructure, has long supported local content through the development of homegrown technologies.
These, according to him, include Nigerian-assembled vehicles; smart irrigation systems; renewable energy solutions; and electronic devices, citing the innovations as proof of the growing sophistication and competitiveness of local manufacturing.
“We are determined to be at the forefront of implementing the President’s vision. But this is also a call to action for local producers. Policy support alone is not enough quality and standards must never be compromised,” Halilu added. He expressed confidence in the readiness of local manufacturers to deliver on the vision.
“We have seen the capacity and competence of our local manufacturers. They are ready. With the right support, we can achieve true industrialisation powered by Nigerian solutions,” he stated.
Recall that the president, on May 5, 2025, tasked the Bureau of Public Procurement (BPP) with revising procurement guidelines to favour local suppliers, aims to promote Made-in-Nigeria products by giving them priority in government purchases. He announced a plan to issue an Executive Order which would ensure that the government and Nigerians patronise goods and services that are produced in Nigeria.
Under the new policy, BPP is expected to maintain a register of qualified Nigerian manufacturers and service providers to ensure transparency and ease of access to local content options in public procurement processes.
