Senator Ali Ndume praises President Bola Tinubu’s directive to prioritize Nigerian goods in government spending, stating it will boost the local economy and create jobs

[dropcap]S[/dropcap]enator Ali Ndume, representing Borno South, has commended President Bola Tinubu for the recent embargo placed on the importation of foreign goods.

Also read: President Tinubu to break ground for world’s largest cotton, polyester factory in Ogun State

The senator’s commendation follows President Tinubu’s directive to all federal ministries, departments, and agencies (MDAs) to prioritize Nigerian goods, services, and know-how in public spending.

The directive, announced by the Minister of Information and National Orientation, Mohammed Idris, after Monday’s Federal Executive Council meeting, aims to position Nigeria at the “centre of every kobo” spent by the government.

In a statement issued on Tuesday, Senator Ndume described the move as a bold initiative that would significantly promote indigenous entrepreneurs, stimulate the local economy, and generate employment for Nigerians.

“It is heartwarming to hear that President Tinubu has taken this bold decision to ban imported goods that can be produced locally.

This will be a major boost for indigenous businesses amid the slipping Nigerian economy,” Senator Ndume stated.

He emphasized that the faithful implementation of this directive would protect local producers from being overwhelmed by established foreign investors who flood the market with cheaper and often substandard goods.

“It is heartwarming to hear that President Tinubu has taken this bold decision to ban imported goods that can be produced locally. This will be a major boost for indigenous businesses amid the slipping Nigerian economy,” said Senator Ali Ndume.

“If implemented faithfully, it will shield our local producers striving to find their feet from being choked out of existence by established foreign investors who flood our market, unhindered, with goods that are cheaper and even substandard,” he added.

Senator Ndume also highlighted the potential benefits of the policy, including job creation for employable youths, an increase in the Gross Domestic Product (GDP), and appreciation of the Naira due to reduced strain on foreign reserves from decreased demand for foreign exchange by importers.

He further urged the Federal Government to consider imposing heavy taxes on certain foreign goods to discourage Nigerians from purchasing them over locally produced items.

Also read: ‘Sustaining peace’ There’s much to loose if Nigeria is divided, Ali Ndume says

“With protection of local industries, there will be employment for our employable youths, the measure will also boost our Gross Domestic Product and the value of Naira will appreciate as there will be less strain on our foreign reserves, since the demand for foreign exchange by importers of such foreign goods would drastically reduce,” he stated.