Tinubu’s Nigeria First Policy will boost SMEs, create jobs, stimulate economic growth, says Alao

A chieftain of the All Progressives Congress (APC) in Oyo State and former governorship aspirant of the party, Engineer Oyedele Hakeem Alao (Allow Alao), has lauded President Bola Tinubu for launching the “Nigeria First” policy, which prioritizes the use of locally made goods and services in all government procurement.

Alao in a release from his Media Office, described the the policy which mirrors the US President Donald Trump’s “America First” doctrine as long overdue, noting that previous administrations failed to implement similar measures despite calls from stakeholders following the 2016 oil price crash.

According to him, under the new policy, federal ministries, departments, and agencies are required to give preference to Nigerian products and expertise when spending public funds.

“The policy bans the procurement of foreign goods or services already available locally unless a waiver is granted by the Bureau of Public Procurement. This initiative can be seen as a true and definite demonstration of the government’s commitment to promoting local industries, boosting economic growth, and creating jobs for Nigerians”, he said.

Alao emphasized that this initiative is expected to stimulate economic growth, create jobs, and support small and medium-sized enterprises (SMEs), stating that by giving preference to locally produced goods and services, the country can stimulate demand, increase capacity utilisation, and attract investments into the manufacturing sector.

He however charged the government to establish a presidential committee to oversee the policy’s implementation, calling for allocation of special funds to assist SMEs and manufacturers in scaling their operations.

Alao also praised the reforms of President Tinubu in the oil and gas sector, particularly the appointment of Engr. Bayo Bashir Ojulari as the Group Chief Executive Officer (GCEO) of Nigerian National Petroleum Corporation Limited (NNPCL).

According to him, “I have no doubt in my mind that Ojulari and others appointed are very competent for the jobs as they are active players in the oil industry with the requisite experience. They know what is at stake and the targets set for them by President Tinubu and will do everything possible to meet the targets and take the NNPCL to greater heights.”

He expressed optimism that these reforms, alongside the Nigeria First policy, would drive economic transformation and address challenges such as gas supply to power generation companies, ultimately boosting the power sector and overall economic performance.