The Minister of Interior, Olubunmi Tunji-Ojo, has praised the Nigeria First policy introduced by President Bola Tinubu, saying it will drive the country back to industrialisation.
Speaking on Channels Television’s Youth Forum on Thursday, Tunji-Ojo emphasised the importance of the policy in protecting local industries and promoting backward integration.
“Two things that make me happy about being part of this administration. One is the issue of Nigeria First because that is the real way back for industrialisation.
“If you do not have that as a policy, there is no way that indigenous manufacturers will compete with people coming from China where there is cheaper labour, and electricity, ” he said.
Tunji-Ojo highlighted the challenges faced by local manufacturers in competing with foreign counterparts without government support.
He noted that the Nigeria First policy would help level the playing field and promote the use of locally manufactured goods and services.
The Minister also commended the Naira for Crude policy, saying it has helped stabilise the price of petrol in Nigeria.
“Number is the issue of naira for crude. For the first time you can see that Dangote Refinery and whatever, the prices of refined fuel are coming down despite the fact that it is increasing in the international market,” he said.
Tunji-Ojo attributed the stability of the naira to the policy, saying, “Today we are no longer depending on the issue of foreign exchange. And that is the reason you have seen the naira being stable for some time now, N1,500 or N1,600.”
While acknowledging that the policy decisions came late, Tunji-Ojo emphasised their necessity in saving the country from economic collapse.
He said, “It is unfortunate that President Tinubu is left to make decisions that should have been taken decades ago by Nigeria’s past leaders.
He, however, said that though it might have been late, it was necessary to save the country from collapsing economically.
