The Chairman of Zinox Group, Leo Stan Ekeh, says the Federal Government’s “Nigeria First Policy”, which prioritises qualified local businesses in public procurement, will boost Nigerian entrepreneurs.
Ekeh said this in a statement on Thursday.
Newsextra24 reports that the “Nigeria First Policy” is an economic directive approved by the Federal Executive Council in May 2025 to prioritise locally manufactured goods and services in all public sector procurements.
He added that the policy could create a dependable domestic market for Nigerian businesses and strengthen local capacity.
The Zinox boss noted that the initiative could also help Nigerian companies compete more effectively by opening greater opportunities for businesses with the capacity to supply goods, services and technology to government.
According to him, Nigeria cannot build a sustainable digital economy if indigenous businesses are continually displaced by foreign alternatives in areas where local capacity exists.
Ekeh said public procurement remained one of the strongest tools available to government for stimulating local enterprise, innovation, investment and sustainable job creation.
He said government spending could become a catalyst for economic development when a greater proportion of it was directed toward qualified Nigerian businesses.
According to him, increased access to public contracts will encourage indigenous companies to invest in production, research, skills development and business expansion.
He explained that the resulting growth could create more jobs, develop technical expertise and strengthen the country’s ability to produce solutions for its own needs.
“Protecting local capacity is not about shutting the door to global competition; it is about ensuring that Nigerian businesses are strong enough to compete,” he said.
Ekeh said the policy should, however, not be interpreted as an opportunity to compromise quality or award contracts to companies simply because they are Nigerian.
He stressed that local preference must be supported by clear standards, transparency, competitiveness and accountability to ensure that government obtained value for public funds.
According to him, qualified indigenous companies should be given a fair opportunity to compete while remaining subject to appropriate technical, professional and performance requirements.
Ekeh said this balance would help create a business environment in which local companies could grow without being shielded from the discipline of competition.
He said the policy could also reduce Nigeria’s excessive reliance on imported technology by creating stronger incentives for indigenous businesses to develop and deploy local solutions.
According to him, Nigerian entrepreneurs have already demonstrated capacity in areas such as fintech, cybersecurity, enterprise technology, digital services and other emerging fields.
He said giving credible local businesses greater access to government opportunities would help them build stronger track records and attract the investment needed to scale.
Ekeh said businesses that developed stronger capacity through the domestic market would also be better positioned to compete in regional and international markets.
He called for stronger enforcement of procurement regulations, saying the effectiveness of the “Nigeria First Policy” would depend largely on consistent compliance by public institutions.
Ekeh urged the Bureau of Public Procurement to apply appropriate sanctions against entities that deliberately breached applicable procurement requirements supporting local participation.
“Policy without enforcement will remain an aspiration. Nigerian businesses need confidence that established procurement rules will translate into genuine opportunities,” he said.
According to him, effective enforcement will also discourage practices that undermine qualified local businesses and weaken confidence in public procurement.
Ekeh said transparency was equally important to prevent local preference from becoming a channel for patronage or the award of contracts to unqualified companies.
He advocated procurement processes based on clearly defined criteria, allowing competent Nigerian businesses to compete while ensuring that contractors remained accountable for delivery.
According to him, technology could strengthen this process by making public procurement more transparent, traceable and efficient.
Ekeh said e-procurement platforms could provide clearer records of bidding, evaluation, contract awards and payments, while reducing opportunities for manipulation.
He said digital audit trails could further assist regulators and oversight institutions in monitoring procurement activities and identifying irregularities.
According to him, government cloud infrastructure, secure digital systems and effective data protection measures should form part of the wider transformation of public contracting.
Ekeh said digital procurement could also make it easier to monitor local participation and assess whether government agencies were complying with established procurement requirements.
He said combining transparent digital systems with a credible local preference policy could create a more predictable environment for Nigerian businesses.
According to him, such predictability is important because entrepreneurs are more likely to invest when they can see genuine opportunities for their products and services.
Ekeh identified intellectual property protection as another critical component of building a sustainable indigenous technology ecosystem.
He said Nigerian innovators would be encouraged to invest in research and product development when their intellectual property was adequately protected.
According to him, Nigeria needs to move beyond being predominantly a consumer of imported technology and become a stronger producer of technology, intellectual property and digital solutions.
He said achieving this will require coordinated action among government institutions, businesses, regulators, financial institutions and other stakeholders.
Ekeh said government policies should encourage local manufacturing, research, talent development and the creation of products capable of meeting international standards.
He noted that the objective should be to develop Nigerian businesses that could satisfy domestic demand while building the capacity to compete globally.
According to him, the success of the Nigeria First Policy should ultimately be reflected in stronger businesses, increased local production, job creation and greater innovation.
Ekeh said the policy could become a significant economic development instrument if implemented consistently, transparently and with emphasis on competence.
