The Manufacturers Association of Nigeria says the new procurement policy favoring local products could boost GDP by 56%, creating jobs and wealth.
The Manufacturers Association of Nigeria (MAN) announced on Monday, May 12, 2025, that Nigeria’s first procurement policy, prioritizing locally made goods, could increase the nation’s GDP by 56%. The statement was made by MAN’s Director-General, Segun Ajayi-Kadir, during a press briefing in Abuja.
The policy, launched by the Federal Government, mandates public institutions to prioritize Nigerian products in procurement processes. Ajayi-Kadir highlighted its potential to stimulate local industries, create millions of jobs, and reduce reliance on imports, fostering economic self-sufficiency.
MAN projects significant growth in manufacturing, agriculture, and SMEs, with ripple effects on employment and wealth creation. The association urged strict enforcement to prevent loopholes that could undermine the policy’s impact.
The announcement has sparked optimism among stakeholders, who see the policy as a game-changer for Nigeria’s economy, though challenges like corruption and compliance remain concerns.
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