The Minister of State for Industry, Trade and Investment, John Enoh, on Monday said the economic value of implementing the “Nigeria First” policy is about N3 trillion annually.
He stated this while briefing State House Correspondents shortly after the Federal Executive Council meeting at the State House Abuja.
On May 5, 2025, President Bola Tinubu announced a plan to issue an Executive Order which would ensure that Nigerians patronise goods and services that are produced in Nigeria.
Enoh said the policy would also contribute about 20 per cent to the growth of the manufacturing sector in Nigeria in the next three years.
He explained that over 500,000 jobs would be created through the policy in the short term and lead to a reduction of about 30 per cent of imports.
Meanwhile, the Minister of Information and National Orientation, Mohammed Idris, said President Tinubu and the Federal Executive Council have directed the Bureau for Public Procurement to communicate the new threshold for procurement of goods and services.
Idris said FEC also noted the need for the private sector players to participate more actively in Nigeria’s economic growth, and directed Ministries, Departments and Agencies (MDAs) to deepen their collaboration with the private sector especially in terms of infrastructure development.
