The Federal Executive Council (FEC) has approved a new ‘Nigeria First’ economic policy aimed at prioritising locally produced goods and services in all government procurement processes.
Minister of Information and National Orientation, Mohammed Idris, disclosed this after the FEC meeting in Abuja, noting that the policy will soon be backed by an executive order.
“This policy mandates that in all procurement decisions, local alternatives must be considered first. No foreign goods will be procured if their local equivalents exist, unless there is strong justification,” he said.
The minister said the move is intended to reshape public spending in a way that strengthens local industries and encourages economic self-reliance.
He added that contractors would no longer act as middlemen importing foreign products while domestic manufacturers are neglected.
The policy, he said, aligns with President Tinubu’s industrialization agenda and aims to shield Nigeria’s economy from external shocks while boosting local production.
FEC directed the Bureau of Public Procurement (BPP) to update procurement guidelines to reflect the new directive and ensure compliance.
According to Idris, the BPP will create a local content compliance framework, maintain a register of vetted Nigerian manufacturers and service providers, and reassign procurement officers to the Bureau as a centralised agency to strengthen oversight.
