President Bola Ahmed Tinubu has officially approved the implementation of the Nigeria First Policy, which prohibits the importation of foreign goods that can be produced locally, according to a statement released on Wednesday.

The policy includes immediate implementation of revised procurement thresholds for Ministries, Departments, and Agencies (MDAs), aligning with the President's Renewed Hope Agenda by prioritizing locally produced goods and services.

As reported by NTA, the approval follows recommendations from Dr. Adebowale Adedokun, Director General of the Bureau of Public Procurement (BPP), who will provide detailed implementation guidelines for the new policy.

"The details of the implementation guidelines will be provided by the DG, BPP, Dr. Adebowale A. Adedokun, FCIPS, CMILT, ACFE," the presidency stated in its official communication.

This development comes after President Tinubu's earlier directive on May 3rd, 2025, ordering a ban on importing foreign goods, particularly those that Nigeria has the capacity to produce domestically.

The Nigeria First Policy represents a significant shift in the country's economic strategy, emphasizing self-sufficiency and boosting local industries as part of the administration's broader economic reform agenda.

Economic analysts suggest this policy could potentially strengthen Nigeria's manufacturing sector, create jobs, and reduce dependence on foreign imports, though implementation challenges may arise in the short term.