THE recent ban on the importation of foreign goods, especially those with local equivalents, as well as the placement of a caveat on expatriate quota in Nigeria by the Federal Government, has been described in some quarters as a welcome development capable of significantly boosting local
industries across Nigeria.

Chairman and Chief Executive Officer (CEO) of Erojim Investments Limited, Dr. Jimmy Ntuen, who reacted to the announcement in Abuja, said that not only is the ban a landmark decision that would impact local industries, it would enhance competitiveness and the emergence of quality products across markets in Nigeria.

He said, “Banning the importation of foreign goods that have local equivalents is a bold initiative; it is a game-changer for Nigeria’s economy and a significant boost to local industries across the country.”

In his opinion, the ban by President Bola Tinubu is a reflection of his “Visionary leadership and commitment to promoting indigenous production and local content.

This policy will undoubtedly enhance the competitiveness and growth of Nigerian businesses, including Erojim Designs, and contribute significantly to the nation’s economic development.

Expressing gratitude and appreciation for the decision, he pointed out that the Renewed Hope Agenda is reflected through this ban as it undoubtedly “create more job opportunities, and contribute to the country’s prosperity. We look forward to leveraging this policy to expand our operations.”

Recall, President Tinubu, through the Minister of Information and National Orientation, unveiled a new industrialization policy which banned the importation of foreign goods, especially those that can be produced locally, and also placed a caveat on expatriates coming into Nigeria to execute jobs that can equally be executed by local contractors and artisans, stating that unless there is enough justification, such expatriates cannot be allowed to take away jobs from Nigerians.

This decision, according to the government, is targeted at strengthening the local economy and boosting local content.