The Manufacturers Association of Nigeria (MAN) has commended the federal government over the recently approved ‘Nigeria First’ policy, saying it will attract investment into the manufacturing sector.
Speaking in Lagos on Tuesday, Segun Ajayi-Kadir, director-general (DG) of MAN, said the policy would boost local content development and help reduce unemployment in the country.
The federal executive council (FEC) on Monday approved the ‘Nigeria First’ policy to prioritise locally made goods and services in all government procurements.
Mohammed Idris, minister of information and national orientation, said the policy would soon be backed by an executive order, with the attorney-general expected to prepare the necessary legal framework.
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Ajayi-Kadir welcomed the development and asked stakeholders to work together to ensure its full and sustainable implementation.
He said the initiative signalled the government’s determination to grow local industries, stimulate economic activities, and create more job opportunities for Nigerians.
The DG explained that prioritising locally made goods and services would stimulate demand, increase capacity utilisation, and attract investment to the manufacturing sector.
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“It is a cheering news and long awaited relief to resilient Nigerian manufacturers, who, in spite of the tough economic environment, have demonstrated enduring faith in the potential greatness of the Nigerian economy,” he said.
“MAN believes that this policy will have a multiplier effect on the economy, leading to increased economic activity, improved Gross Domestic Product (GDP) growth, and enhanced competitiveness of Nigerian industries.”
Ajayi-Kadir said the directive was long overdue and urged the federal government to lead by example in the implementation, given its position as the largest spender.
‘NIGERIA FIRST POLICY TO BOOST GDP BY 56%’
The director-general said proper implementation of the policy through an executive order could raise GDP by 56 percent, reduce unemployment by 37 percent, and improve companies’ willingness to hire from 1.5 percent to 22.6 percent.
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He encouraged all levels of government, businesses, and citizens to support the policy by choosing Nigerian-made goods and services.
“This is with a special focus on uniformed government agencies and institutions (including the military and police), the legislature and quite importantly, the Presidency,” Ajayi-Kadir.
“All government contracts should prioritise the patronage of made in Nigeria materials and government needs to consult with manufacturers on the way forward to achieve effective and efficient implementation.”
The DG said MAN would partner with both government and private sector institutions to ensure the success of the ‘Nigeria First’ initiative in line with its mandate.
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