The Nigeria Employers’ Consultative Association (NECA) has commended the federal government on the recently announced Nigeria first procurement policy aimed at boosting local production and revitalising the economy.
On Monday, the Federal Executive Council (FEC) approved the landmark policy to strengthen Nigeria’s domestic economy and promote local content, to be backed by an Executive Order signed by the President.
Speaking in Lagos, Adewale-Smatt Oyerinde, director-general, chief executive of the association, stated that this is a great move, a strategic economic imperative we’ve been clamouring for.
“Over the past few years, we’ve urged the government to prioritise the patronage of made in Nigeria goods, as this will not only promote local production but will fundamentally reduce the pressure on FOREX demands, stimulate local industrial growth, and facilitate job creation and preservation among many others.
“We commend the government for this move and urge a thorough implementation. Without implementation across all ministries, departments, and agencies, the policy could suffer the fate of many like it,” Oyerinde said.
The new policy framework, tagged the ‘Renewed Hope Nigeria First Policy,’ was unveiled by Mohammed Idris, the minister of Information and National Orientation, while briefing State House journalists after the meeting.
Idris said the Federal Government will prioritise Nigeria’s interest at the center of all public procurement and business activity, with a strong emphasis on empowering local industries and reducing dependency on imports.
According to him, the policy seeks to foster a new business culture that is bold, confident, and very Nigerian.
“It aims at making government investment directly benefit our people and industries by changing how we spend, procure, and build our economy,” Idris said.
He announced that the FEC approved a directive to the office of the Attorney General of the Federation to draft an Executive Order to give full legal effect to the new framework.
“Now this seeks to foster a new business culture that will be bold, confident, but also very, very Nigerian, and it aims at making the government invest in our people and our industries by changing how government spends money, how we procure, and how we also build our economy. Going forward, Nigerian industry will take precedence in all procurement processes.
“Where local supply falls short. Contracts will be structured to build capacity domestically, contractors will no longer serve as intermediaries sourcing foreign goods where local factories die. I take the example of the sugar industry,” Idris said.
According to Idris, the Bureau of Public Procurement (BPP) was also directed to revise and enforce procurement rules that prioritise Nigerian-made goods and homegrown solutions across all Ministries, Departments, and Agencies (MDAs).
The Renewed Hope Nigeria First Policy is expected to take effect as soon as the Executive Order is signed by President Tinubu.
