In a landmark move that underscores his administration’s commitment to economic revitalization, President Bola Tinubu unveiled the “Nigeria First” policy during the Federal Executive Council meeting on May 5, 2025. This policy aims to prioritise local content in government procurement, fostering self-reliance and stimulating domestic industries.
A Strategic Shift Towards Economic Sovereignty
President Tinubu’s “Nigeria First” policy is a strategic initiative designed to overhaul the nation’s procurement processes. By mandating that all Ministries, Departments, and Agencies (MDAs) prioritize locally made goods and services, the policy seeks to reduce dependence on foreign imports and invigorate domestic production. Any procurement of foreign goods or services now requires a waiver from the Bureau of Public Procurement (BPP), ensuring that local alternatives are considered first .
This policy aligns seamlessly with the administration’s broader economic reforms, including the removal of fuel subsidies and the unification of foreign exchange rates, which have already begun to yield positive outcomes such as increased foreign reserves and renewed investor confidence .
Empowering Local Industries and Creating Jobs
At its core, the “Nigeria First” policy is about empowering Nigerian industries and creating employment opportunities. By focusing on local procurement, the government aims to stimulate demand for domestically produced goods, thereby encouraging investment in local manufacturing and services sectors. This approach is expected to lead to job creation, skill development, and technological advancement within the country.
The policy also mandates that contracts involving foreign entities include provisions for technology transfer and local capacity building, ensuring that Nigerian industries benefit from international collaborations .
Challenges and the Path to Successful Implementation
While the “Nigeria First” policy is ambitious, its successful implementation will require overcoming several challenges. These include potential resistance from entrenched procurement interests, the need for capacity building within local industries to meet demand, and ensuring compliance across all MDAs .
To address these challenges, the government plans to establish a Local Content Compliance Framework and maintain a register of high-quality Nigerian suppliers. Additionally, procurement officers will be deployed to MDAs to enforce adherence to the new guidelines .
A Renewed Hope for Nigeria’s Economic Future
President Tinubu’s “Nigeria First” policy represents a bold step towards economic self-sufficiency and national pride. By prioritizing local content, the policy aims to harness Nigeria’s vast human and material resources, fostering a resilient and inclusive economy.
As the policy takes effect, its success will depend on the collective efforts of government agencies, private sector stakeholders, and the Nigerian populace. With sustained commitment and effective implementation, “Nigeria First” has the potential to transform the nation’s economic landscape and realize the aspirations of the Renewed Hope agenda.
Henry Balogun is the founder and publisher of HB Report.
