The Centre for the Promotion of Non-public Enterprise (CPPE) has known as on the Federal Authorities to codify the “Nigeria First Coverage” into legislation to ensure its enforceability, consistency, and sustainability in driving the nation’s quest for financial self-reliance.
In a press release signed by the Chief Government Officer, Dr. Muda Yusuf, and despatched to Nairametrics on Sunday, the CPPE emphasised that Nigeria stands at a pivotal second in its financial improvement journey and should undertake a deliberate technique that prioritizes home manufacturing, worth addition, and native participation throughout all sectors of the economic system.
“When native content material insurance policies are backed by laws, institutional buildings, and financial incentives, they ship measurable and sustainable outcomes,” the assertion stated.
The group urged the federal government to transcend coverage declarations by embedding the Nigeria First precept into the nation’s authorized and institutional frameworks.
This, it stated, would guarantee long-term coverage continuity, entice funding confidence, and defend the economic system from exterior vulnerabilities.
CPPE requires stronger enforcement capability
It additionally said that the federal government ought to construct robust institutional and enforcement capability to make sure compliance, reduce leakages, and maintain momentum.
The group additional famous “previous government orders and procurement insurance policies with out legislative power or enforcement mechanisms failed to supply significant outcomes.”
This, the assertion stated, underlines the necessity to transfer past coverage pronouncements to authorized, institutional, and operational frameworks able to driving compliance and accountability throughout sectors.
By embedding the coverage into legislation, CPPE argued, Nigeria might lastly chart a daring path towards self-reliance, industrial revival, and resilience within the face of worldwide financial uncertainties.
What you need to know
- Nairametrics earlier reported that President Bola Tinubu had introduced that the Federal Authorities will bar all Ministries, Departments, and Businesses (MDAs) from procuring international items and companies the place native alternate options exist.
- The directive was among the many key resolutions adopted on the Federal Government Council (FEC) assembly and was introduced in a press release by Sunday Dare, Particular Adviser on Media and Public Communication to President Bola Tinubu in Could.
- In response to him, the Nigeria First Coverage is designed to stimulate home manufacturing, implement native content material compliance, and overhaul the federal government’s procurement practices.
- FG stated the coverage is designed to stimulate home manufacturing, implement native content material compliance, and overhaul the federal government’s procurement apply
- Earlier, Nairametrics reported that the Producers Affiliation of Nigeria (MAN) known as on the Federal Authorities to introduce annual native content material benchmarks for presidency procurement in key sectors resembling vehicles, textiles, prescribed drugs, and agro-processing.