The Manufacturers Association of Nigeria (MAN), the Lagos Chamber of Commerce and Industry (LCCI), and the Centre for the Promotion of Private Enterprise (CPPE) have all expressed strong support for the Federal Government’s newly introduced “Nigeria First” policy directive. This initiative is designed to prioritize the patronage of made-in-Nigeria goods and services, as well as enhance local content development.
In separate statements to Vanguard, the stakeholders emphasized that the policy could significantly increase capacity utilization for manufacturers and help the country conserve much-needed foreign exchange.
Mr. Segun Ajayi-Kadir, Director General of MAN, described the policy as a clear indication of the government’s dedication to promoting local industries, fostering economic growth, and generating employment opportunities for Nigerians. He noted that prioritizing locally produced goods and services would stimulate demand, drive up capacity utilization, and attract more investment into the manufacturing sector.
According to Ajayi-Kadir, the broader implementation of the policy through an executive order could yield substantial economic benefits. These include a projected 56% boost in GDP, a 37% reduction in unemployment, and an increase in firms’ willingness to employ, rising from 1.5% to 22.6%.
Dr. Muda Yusuf, Chief Executive Officer of CPPE, also praised the policy, describing it as a highly commendable step toward economic revitalization. He highlighted the wide-ranging advantages of increasing local patronage, including GDP growth, job creation, and foreign exchange conservation. Dr. Yusuf emphasized that the government’s procurement policy is a powerful tool for driving demand for domestically produced goods and encouraged the extension of this policy to state governments as well.
He further recommended expanding the policy beyond procurement into trade policy frameworks, advocating for protective measures that would benefit local manufacturers.
Dr. Chinyere Almona, Director General of LCCI, welcomed the policy’s intent but cautioned against potential pitfalls such as the creation of monopolies or the spread of substandard products. She stressed the importance of complementing strategic protection with robust quality assurance initiatives and efforts to expand markets.
Almona underscored the need for quality control and the protection of consumer rights, adding that the success of the Nigeria First policy also depends on large-scale investments in vocational and digital skills training to meet modern market demands.
Together, the three organizations reiterated that while the policy holds great promise for Nigeria’s economic transformation, its effective and inclusive implementation is critical to realizing its full potential.
