President Bola Tinubu has launched the Renewed Hope Nigeria First Policy, mandating all government Ministries, Departments, and Agencies (MDAs) to prioritize Nigerian-made goods and services. The policy, approved by the Federal Executive Council (FEC) on May 6, 2025, aims to boost local industries and reduce reliance on imports.
Under the new directive, any MDA seeking foreign alternatives must obtain a written waiver from the Bureau of Public Procurement (BPP). The Minister of Information and National Orientation, Mohammed Idris, described the policy as a bold shift in Nigeria’s economic approach, emphasizing that government spending should directly benefit local businesses.
The BPP will revise procurement rules, enforce local content compliance, and maintain a national database of qualified Nigerian suppliers. Procurement officers will now report directly to the BPP to ensure accountability. Finance Minister Wale Edun also announced Nigeria’s full membership in the Asian Infrastructure Investment Bank (AIIB), securing 50 shares worth $5 million.
Idris cited the sugar industry as an example, stating that despite local producers, Nigeria continues to import sugar. The new policy aims to change that by enforcing local procurement standards.
With an Executive Order expected soon, Tinubu’s administration is taking decisive steps to reshape Nigeria’s economic landscape.
