The lawmaker representing Borno South Senatorial District in the National Assembly, Ali Ndume has commended the Bola Tinubu-led administration for its ban on the importation of foreign goods that have local equivalents.
Recall that the Minister of Information and National Orientation, Mohammed Idris, made the disclosure on Monday while briefing newsmen at the end of the Federal Executive Council meeting.
The Federal Government also placed restrictions on the hiring of expatriates for jobs that can be competently handled by Nigerian professionals or artisans, requiring express approval from the Bureau of Public Procurement (BPP) in such cases.
Idris who described the decision as a landmark said it was aimed at revitalizing Nigeria’s domestic economy and promoting local content.
He also noted that it was in line with the sweeping new policy framework tagged the Renewed Hope Nigeria First Policy.
Reacting to the development in a statement on Tuesday, Ndume described the policy as a bold and necessary move to strengthen local production, create jobs, and revitalize the economy.
He said, “It is heartwarming to hear that President Tinubu has taken this bold decision to ban imported goods that can be produced locally.
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“This will be a major boost for indigenous businesses amid the slipping Nigerian economy.”
The former Senate Leader noted that if implemented faithfully, the policy would provide critical support to local manufacturers struggling to compete with cheaper, and often substandard, imported goods.
He further noted, “With protection of local industries, there will be employment opportunities for our youths.
“The measure will also boost our Gross Domestic Product (GDP), and the value of the naira will appreciate as there will be less strain on our foreign reserves due to reduced demand for foreign exchange.”
Ndume also advised the Federal Government to “also impose heavy taxes on some of the foreign goods to discourage Nigerians from buying them and pick locally produced items.”
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