The ‘Nigeria First’ policy approved by the Federal Executive Council (FEC) on Monday is receiving a lot of support from a cross-section of Nigerians, from private sector operators and manufacturers to members of the political class.

The overwhelming verdict is that the policy, aimed at prioritising domestic products in government procurement and contracts, is capable of boosting local production and stimulating the economy.

The policy intends to put Nigeria first in all procurement processes and ensure that no foreign goods or devices that are already being produced locally would be procured without a clear and justified reason, according to the Minister of Information and National Orientation, Mohammed Idris.

On Tuesday, the Manufacturers Association of Nigeria (MAN) and Nigeria Employers’ Consultative Association (NECA) commended the ‘Nigeria First’ policy, saying, however, that the government should ensure thorough and effective implementation of the policy.

Director General of MAN, the umbrella organisation for manufacturers in Nigeria, Segun Ajayi-Kadir, called the initiative “a welcome development in the right direction”, saying it is a long-awaited relief to resilient Nigerian manufacturers, who, despite the tough economic environment, have demonstrated enduring faith in the potential greatness of the Nigerian economy.

Ajayi-Kadir described the initiative as a true and definite demonstration of the government’s commitment to promoting local industries, boosting economic growth, and creating jobs for Nigerians, adding that by giving preference to locally produced goods and services, the country can stimulate demand, increase capacity utilization, and attract investments into the manufacturing sector.

He called for all tiers of government, private sector entities, and individuals to support the initiative by patronising made-in-Nigeria 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. All government contracts should prioritise the patronage of made-in-Nigeria materials. So, the government needs to consult with manufacturers on the way forward to achieve effective and efficient implementation,” he said.

Ajayi-Kadir said manufacturers earnestly looked forward to working with the Federal Government and other tiers of government, their agencies and private sector organisations and businesses to actualise the Nigeria First project.

He reckoned that the policy would have a multiplier effect on the economy, leading to increased economic activity, improved Gross Domestic Product (GDP) growth, and enhanced competitiveness of Nigerian industries.

He said further that from earlier survey, the effective implementation of such an initiative (as should be stipulated in the consequential executive order) would scale investments and potentially boost GDP by 56 per cent, reduce unemployment by 37 per cent and increase firms’ willingness to employ from 1.5 per cent to 22.6 per cent.

In a similar vein, Director-General and Chief Executive of NECA, Adewale-Smatt Oyerinde, said the policy was “a great move, a strategic economic imperative that the OPS has been clamouring for”, adding it would stimulate local industrial growth and facilitate job creation and preservation, among many others.

He said NECA has over the past few years urged the government to prioritise the patronage of made-in-Nigeria goods, which would not only promote local production but fundamentally reduce the pressure on foreign exchange demands.

“Without implementation across all Ministries, Departments and Agencies (MDAs), the policy could suffer the fate of many like it,” he said.

Also commending the Federal Government on the ‘Nigeria First’ policy, former Senate Chief Whip, Senator Mohammed Ali Ndume, described it as a courageous and landmark decision that would go a long way in promoting indigenous entrepreneurs, boosting the local economy, and generating employment for Nigerians.

“It is heartwarming to hear that President Tinubu has taken this bold decision to ban imported goods that can be produced locally. This will be a major boost for indigenous businesses amid the slipping Nigerian economy,” Ndume said in a statement on Tuesday.

“If implemented faithfully, it will shield our local producers striving to find their feet from being choked out of existence by established foreign investors who flood our market, unhindered, with goods that are cheaper and even substandard.

“With protection of local industries, there will be employment for our employable youths, the measure will also boost our Gross Domestic Product, (GDP) and the value of Naira will appreciate as their will be less strain on our foreign reserves, since the demand for foreign exchange by importers of such foreign goods would drastically reduce,” he said.