The Centre for the Promotion of Private Enterprise (CPPE) has called on the federal government to enact the Nigeria First Policy into law to ensure its effective implementation. According to the CPPE’s Chief Executive Officer, Muda Yusuf, this move is necessary to prioritize Nigerian services, human capital, and enterprises in public and private procurement and investment decisions.
The Nigeria First Policy, recently announced by President Bola Ahmed Tinubu, aims to reduce the country’s reliance on importation and boost domestic production capacity. The CPPE believes that if properly enforced, the policy can have a significant impact on the economy. However, the Centre notes that the policy’s success should not be hindered by weak enforcement mechanisms, poor institutional coordination, lack of legislative backing, and policy inconsistency.
To address these concerns, the CPPE recommends that the federal government codify the Nigeria First Policy into law to ensure enforceability, consistency, and long-term sustainability. The Centre also suggests integrating domestic preference clauses into all public procurement and investment promotion frameworks, introducing targeted fiscal incentives to stimulate domestic production, and building strong institutional and enforcement capacity to ensure compliance.
Furthermore, the CPPE advocates for strong public-private collaboration to drive innovation, ensure supply readiness, and deepen economic inclusion. The Centre also recommends establishing sector-specific benchmarks and measurable performance indicators to monitor the policy’s impact and adjust strategies as needed.
The Nigeria First Policy is seen as a strategic move in Nigeria’s economic development journey, prioritizing domestic production, value addition, and local participation. By codifying the policy into law, the federal government can ensure its effective implementation and create a more favorable business environment for Nigerian enterprises. The CPPE’s recommendations are aimed at supporting the government’s efforts to promote economic growth and development in the country. With the right framework in place, the Nigeria First Policy can have a lasting impact on Nigeria’s economy and contribute to its long-term sustainability.
