FEC APPROVES NIGERIA FIRST POLICY TO BOOST LOCAL INDUSTRIES

The Federal Executive Council (FEC) under the leadership of President Bola Ahmed Tinubu, has approved the ‘Nigeria First’ Policy for federal spending and procurement. The main thrust of the policy is that goods produced in Nigeria will henceforth receive deserved priority in federal government procurement. The Policy mandates and empowers all relevant institutions to ensure and implement the procurement of locally produced goods. Any deviations from this will have to be backed by strong justification as well as a written BPP waiver. The policy also comes with provisions for local capacity building and skills development, as well as robust sanctions for violations. The Minister of Information and National Orientation, Mohammed Idris, said the Honorable Attorney General of the Federation has been directed to give full legal effect to the resolutions. Idris urged all Nigerian contractors and suppliers to familiarize themselves with this new policy and to take full advantage of the massive opportunities it will create. He said this is what the Renewed Hope agenda is all about: putting Nigeria first and creating and expanding opportunities for all Nigerians!