The Nigeria Employers’ Consultative Association (NECA) has raised a strong alarm against the federal government’s “Buy Made in Nigeria Policy.” The policy, according to NECA, directly violates the protocols of the Africa Continental Free Trade Agreement (AfCFTA), which Nigeria is a signatory to.
The Director General of NECA, Adewale Oyerinde, made this disclosure on Monday in Lagos during a press conference to announce the 2025 NECA Annual Nigeria Employers Summit. The Summit, themed “Enabling Sustainable Enterprise in a Transitioning Economy: Aligning Fiscal, Trade, and Regulatory Reforms for Inclusive Development”, is scheduled to take place from June 25 to 26 in Abuja.
Some months back, President Bola Ahmed Tinubu approved the Renewed Hope “Buy Made in Nigeria Policy”, which makes it mandatory for federal ministries, departments, and agencies to prioritize Nigerian products and services in their spending. The Minister of Information and National Orientation, Mohammed Idris, made this policy announcement after a meeting of the Federal Executive Council in Aso Rock, Abuja.
Adewale Oyerinde insisted that this policy will affect both businesses and consumers. According to him, it will undermine the purchasing power of ordinary Nigerians, adding that many consumers will opt for cheaper, imported products if the policy is implemented without addressing key issues affecting the competitiveness of Nigerian businesses.
He explained, “By that policy, the government is directly violating the protocols of AfCFTA. If a box of chocolates made in Switzerland sells for N3 while a similar box made in Nigeria sells for N5, which do you think a consumer will buy? Naturally, the person will buy the cheaper one. So, while we promote buying Nigerian products, we need to create the conditions for Nigerian businesses to produce at a competitive price.”
He further explained that this will require addressing structural issues such as poor power supply, weak infrastructure, and unfavorable regulations — all of which raise the cost of production in the country. Without addressing these, consumers will continue to opt for cheaper, imported products, regardless of policy directives.
Oyerinde called for policy alignment across sectors to enable businesses to grow and compete effectively. “We need all these policies, irrespective of which agency is driving them, to be aligned and connected in a way that benefits the private sector and grows the Nigerian economy at the rate the government wants it to grow.”
He explained that this policy inconsistency makes it hard for businesses to plan and for the private sector to have confidence in policy direction. According to him, “What we are now pushing for is the need to align all the policies and get a definitive consensus from the private sector. The private sector needs to be involved; our voice needs to be heard.”
He explained that the 2025 Summit aims to bring clarity to these policy issues and align the perspectives of businesses and regulators. “We will create a platform for businesses to express their concerns and for the government to explain its plans. Without this dialogue, policy implementation will be challenging.”
Earlier, the Summit Planning Committee Chairperson, Victoria Uwadoka, reiterated the importance of policy reforms in strengthening businesses and growing the Nigerian economy. She explained that the federal government’s policy initiatives were yielding results and that this progress must be sustained through collaboration with stakeholders.
