President Bola Tinubu Bans Procurement of Foreign Goods Produced Locally

In a bid to strengthen Nigeria’s domestic economy and promote local content, President Bola Tinubu has initiated a policy that bars the Ministries, Departments and Agencies, MDAs, from procuring foreign goods or services already available locally without a written waiver from the Bureau of Public Procurement, BPP.

This is as the Federal Executive Council, FEC, on Monday, gave its approval to the new policy framework that places the country at the center of all public procurement and business activity, with a strong emphasis on empowering local industries and reducing dependency on foreign imports.

The new policy tagged the Renewed Hope Nigeria First Policy, seeks to foster a new business culture that is bold, confident, and very Nigeria.

Briefing State House correspondents at the end of the fifth cabinet meeting in 2025, presided over by President Bola Tinubu at the Council Chamber, Presidential Villa, Abuja, the Minister of Information and National Orientation, Mohammed Iaris, explained that the new policy is to ensure that the country promote the home grown products.

The Minister described the policy as a bold shift in the country’s economic approach.
He said: “This 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, how we procure, and how we build our economy.”

Idris said that the Attorney General of the Federation, AGF, and Minister of Justice, has been directed to draft an Executive Order to give full legal effect to the new framework.

According to him: “The Nigeria First policy is expected to become the cornerstone of the administration’s economic strategy, especially as the government pushes forward with its industrialisation agenda and import-substitution goals.”

He enumerated the decisions that were approved by the Council which will be enforced immediately.

“The Bureau of Public Procurement, BPP is to revise and enforce procurement rules that prioritise Nigerian-made goods and homegrown solutions across all Ministries.