Nigeria’s manufacturing sector could be on the verge of a major transformation following the Federal Government’s introduction of the ‘Nigeria First’ policy, but industry stakeholders insist that its success will depend on strong implementation rather than political promises. While many manufacturers have welcomed the policy as a bold step toward economic self-reliance, they argue that addressing long-standing structural challenges is essential for the initiative to achieve its intended impact.
The Federal Executive Council recently approved the Nigeria First policy, directing the Office of the Attorney General of the Federation to prepare an executive order that will enforce its implementation. The policy prohibits Ministries, Departments and Agencies (MDAs) from purchasing foreign goods and services that can be sourced locally, with the aim of boosting indigenous industries, creating jobs, reducing import dependence, and strengthening Nigeria’s industrial base. The move is widely seen as part of the government’s renewed drive to encourage local production and economic growth.
Reacting to the development, former Lagos State Chairman of the National Association of Small Scale Industrialists (NASSI), Segun Kuti-George, described the initiative as a significant shift toward industrial renewal. According to him, the policy has the potential to transform Nigeria from an import-driven economy into one powered by local innovation, manufacturing, and value addition. However, he stressed that the vision can only become reality through coordinated action by government institutions, active private sector participation, infrastructure development, regulatory reforms, and sustained investment in local industries.
Other stakeholders echoed similar views while urging the government to match policy with action. Lagos-based entrepreneur Ayo Omoluabi called on government agencies to prioritise locally manufactured products but warned against imposing an immediate blanket ban on foreign goods without considering Nigeria’s current production capacity. Meanwhile, Dele Ayobami noted that directing government procurement toward local suppliers could stimulate industrial growth, create employment, conserve foreign exchange, strengthen the naira, encourage economic diversification, and provide greater opportunities for small and medium-sized enterprises across sectors such as agriculture, textiles, and automotive manufacturing.
Despite the optimism, manufacturers cautioned that the policy could fail if familiar economic obstacles remain unresolved. Agege-based manufacturer Odumosu Ibikunle pointed to persistent challenges including unreliable electricity, poor transport infrastructure, high borrowing costs, and limited access to financing, warning that these issues continue to weaken local production. Similarly, Lagos manufacturer Charles Ndubusi urged the government to complement the policy with tax incentives, affordable loans, technical support, and higher tariffs on non-essential luxury imports, with proceeds redirected toward supporting domestic manufacturers. Together, industry leaders agree that while the Nigeria First policy represents a promising roadmap for industrial growth, only consistent implementation and meaningful support for local businesses will determine whether it becomes a turning point for Nigeria’s manufacturing sector or another missed opportunity.
source: independent
