The Federal Executive Council (FEC) has approved a Nigeria First economic policy targeted at prioritising the use of locally manufactured goods and services in all government procurements.
Mohammed said the policy would soon be backed by an executive order.
“This policy means Nigeria comes first in all procurement processes; no foreign goods or devices that are already being produced locally will be procured without a clear and justified reason,” the minister said while briefing correspondents at the State House.
“Now this seeks to foster a new business culture that will be bold, confident, but also very, very Nigerian. It aims at making the government invest in our people and our industries by changing how the government spends money, how we procure, and how we also build our economy,” the minister added.
According to him, the policy aligns with President Tinubu’s objective of driving industrialisation, insulating the economy from global disruptions, and boosting local production in the country.
FEC directed the Bureau of Public Procurement (BPP) to revise and enforce fresh guidelines to favour local manufacturers and service providers.
“Number three, the BPP has also been directed to maintain a register of high-quality Nigerian manufacturers and service providers regularly engaged by the Federal Government. Number four, the BPP, has also been directed to deploy all procurement officers from the MDAs; all the procurement officers posted to MDAs will be reverted to the Bureau of Public Procurement as a line agency without jeopardizing the possibility of efficiency,” the minister added.
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