‘Nigeria First’ policy to generate ₦3trn annually, says Minister
The Minister of State for Industry, Trade and Investment, John Enoh, announced on Monday that the “Nigeria First” policy is projected to yield an economic value of approximately ₦3 trillion each year.
Enoh made this statement during a briefing with State House Correspondents following the Federal Executive Council meeting at the State House in Abuja.
On May 5, 2025, President Bola Ahmed Tinubu unveiled plans for an Executive Order aimed at encouraging Nigerians to prioritize goods and services produced within the country. Enoh highlighted that this initiative is expected to contribute about 20% to the growth of the manufacturing sector in Nigeria over the next three years.
However, the Minister indicated that the policy will lead to the creation of over five hundred thousand jobs in the short term and could potentially reduce imports by around 30%.
In related news, the Minister of Information and National Orientation, Mohammed Idris, stated that the President and the Federal Executive Council have instructed the Bureau for Public Procurement to announce the new thresholds for procurement of goods and services.
Idris emphasized the need for private sector players to engage more actively in Nigeria’s economic development and directed Ministries, Departments, and Agencies to strengthen collaboration with the private sector, particularly in infrastructure projects.
Source: Channels TV
