The Federal Government’s new ‘Nigeria First’ policy could inject over ₦3 trillion into the economy in the short term if implemented effectively, according to Minister of State for Industry, Trade and Investment, Senator John Enoh.
Enoh made the projection while speaking at a ministerial briefing ahead of the West Africa Industrialisation, Manufacturing and Trade (West Africa IMT) Summit & Exhibition 2025, scheduled to take place in Lagos from October 21 to 23.
“We are preparing to launch a nationwide campaign to promote the purchase of Made-in-Nigeria goods and services. This is part of the broader strategy to actualise the ‘Nigeria First’ policy declared by President Bola Tinubu,” Enoh said.
According to him, if the campaign gains enough traction and shifts consumer preferences toward local products, the country stands to earn an additional ₦3 trillion in the short term.
“We analysed potential outcomes at the ministry, and based on early figures, a successful campaign that resonates with Nigerians could deliver a ₦3 trillion boost to the economy,” he added.
Shifting Attitudes, Building Local Industries
The Minister noted that the campaign will not only promote patriotism but also tackle the persistent reliance on foreign goods, which he described as a major hurdle to industrial growth.
“Changing the attitude of Nigerians is critical. We tend to prefer imported goods, but this policy is about shifting that mindset,” he said.
West Africa IMT Summit to Drive Regional Industrialisation
Highlighting the importance of the West Africa IMT Summit, Enoh described the upcoming event as a crucial platform for regional collaboration and growth in the manufacturing and trade sectors.
“This event is more than just a gathering it’s a strategic opportunity to accelerate industrialisation across Africa. For too long, we’ve depended on exporting raw materials. Now, it’s time to scale up our MSMEs, develop our industries, and harness the full potential of local manufacturing,” he explained.
The Summit is expected to attract stakeholders from across West Africa, focusing on unlocking industrial value chains and boosting trade partnerships to drive sustainable economic development.
