Tinubu Launches Industrial Revolution Plan, Halts Foreign Goods Import to Boost Local Production

President Bola Tinubu has officially announced a sweeping ban on the importation of foreign goods as part of a bold new industrialisation policy aimed at reviving Nigeria’s manufacturing sector. The polilate job creation, and reduce over-reliance on imported products that have long weakened the naira and Nigeria’s economic independence.

The president emphasized that the initiative marks a turning point for Nigeria’s economic future, stating that home-grown industries must be empowered to compete globally. By restricting imports, the government aims to create a more self-reliant economy, where Nigerian-made products are prioritized in both domestic and international markets.

This policy rollout comes with incentives for local manufacturers, including tax reliefs, infrastructure support, and access to low-interest funding to scale operations. While some critics express concern about short-term inflation or scarcity of certain goods, the government insists that long-term benefits will far outweigh initial challenges.