Senator Ali Ndume, representing Borno South, has praised President Bola Tinubu’s recent decision to place an embargo on the importation of foreign goods.
In a statement released in Abuja on Tuesday, Ndume commended the presidential directive, which requires all federal ministries, departments, and agencies to prioritize Nigerian goods, services, and expertise when utilizing public funds.
Information and National Orientation Minister, Mohammed Idris, announced this directive to State House correspondents following Monday’s Federal Executive Council meeting in Abuja, emphasizing that it aims to place Nigeria “at the centre of every kobo” spent by the government.
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Ndume characterized this move as a courageous initiative that will significantly support local entrepreneurs, stimulate the domestic economy, and create job opportunities for Nigerians.
He said: “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.
“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.
“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.”
The senator further called on the Federal Government to consider imposing substantial taxes on certain foreign goods.
He believes this would discourage Nigerians from purchasing these items and instead encourage them to choose locally manufactured alternatives.
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