Tinubu Bans Foreign Imports to Boost Local Economy

Tinubu Bans Foreign Imports to Boost Local Economy

President Bola Tinubu has announced a sweeping ban on the importation of foreign goods that can be produced locally, as part of a bold new economic strategy dubbed the *"Renewed Hope Nigeria First Policy."* The policy, inspired by the *"America First"* doctrine of former U.S. President Donald Trump, mandates that all government procurements prioritize Nigerian-made goods and services. Exceptions will require strict approval from the Bureau of Public Procurement (BPP). The move aims to strengthen domestic industries, reduce dependency on imports, and ensure government spending directly benefits local businesses. An Executive Order will soon formalize the policy, with strict compliance measures, including disciplinary action for violations.  

Additionally, Tinubu has restricted foreign contractors from taking jobs that Nigerians can handle, unless justified and approved by the BPP. The policy also enforces technology transfer clauses in unavoidable foreign contracts. Information Minister Mohammed Idris highlighted Nigeria’s neglected sugar industry as an example, vowing to revive idle local factories. The administration believes this shift will drive job creation, industrialization, and sustainable growth. Despite expected resistance, officials insist compliance will be enforced rigorously, marking a major step in Tinubu’s economic reforms, including subsidy removal and forex restructuring. The policy takes effect once the President signs the Executive Order.

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