Tinubu Bans Importation Of Foreign Goods,To Strengthen Domestic Economy

President Bola Tinubu is set to issue an Executive Order aimed at promoting local content and economic development in Nigeria.

The order, dubbed “Renewed Hope Nigeria First,” seeks to prioritize Nigerian-made goods and services in government procurement processes, reducing reliance on foreign imports

Briefing State House correspondents, Monday, after the Meeting of the Executive Council of the Federation, Minister of Information and National Orientation, Mohammed Idris, said the policy will foster a new business culture that is bold, confident, and Nigerian-centric.

He said the policy places Nigeria at the center of all public procurement and business activity, with a strong emphasis on empowering local industries and reducing dependency on foreign imports.Idris noted that The Bureau of Public Procurement (BPP) will revise and enforce procurement guidelines to prioritize locally made goods and homegrown solutions.

The BPP will ensure that no procurement of foreign goods or services already available locally will proceed without justification and a written waiver.

Contracts must include provisions for technology transfer, local production, or skills development where no viable local option exists.

The BPP will also maintain a register of high-quality Nigerian manufacturers and service providers regularly engaged by the federal

Ministries, departments, and agencies (MDAs) have also been directed to conduct an audit of all procurement plans and submit revised versions in line with these directives.

Breaches of the policy according to the information Minister will attract sanctions, including cancellation of procurement processes and disciplinary action against responsible officers.