The senator representing Borno South senatorial district in the National Assembly, Ali Ndume, has expressed his support for the current administration’s ban on the importation of foreign goods being produced in the country.
Minister of Information and National Orientation Mohammed Idris announced the ban after the Federal Executive Council meeting on Monday.
Additionally, the federal government has placed restrictions on expatriates entering Nigeria to undertake jobs that local contractors and artisans can perform, unless there is a compelling justification accompanied by explicit permission from the Bureau of Public Procurement (BPP).
Idris characterised the decision as a landmark move aimed at bolstering Nigeria’s domestic economy and promoting local content. He also highlighted that this aligns with the sweeping new policy framework, the Renewed Hope Nigeria First Policy.
However, in a statement yesterday, the former Senate Leader, Ndume, remarked that President Bola Ahmed Tinubu’s bold initiative would significantly benefit indigenous entrepreneurs, invigorate the local economy, and create employment opportunities for Nigerians.
He stated, “It is heartening to learn that President Tinubu has made this courageous decision to ban imported goods that can be produced locally. This will majorly boost indigenous businesses amidst the struggling Nigerian economy.
“If implemented diligently, it will protect our local producers who are striving to establish themselves from being driven out of the market by established foreign investors who inundate our market with goods that are often cheaper and even substandard.
“With the protection of local industries, employment opportunities will arise for our employable youth.
This measure will also enhance our Gross Domestic Product (GDP), and the value of the naira is likely to appreciate due to reduced pressure on our foreign reserves, as the demand for foreign exchange by importers of such foreign goods will drastically decline.”
The lawmaker also urged the federal government to “impose substantial taxes on certain foreign goods to discourage Nigerians from purchasing them and encourage the selection of locally produced items.”
