In 1961, South Korea was a nation in despair. With per capita income below $100 and literacy rates around 30%, companies like Samsung and Hyundai were just starting out, focused on grocery trading and boat repairs. Instead of outsourcing its future, Korea made a bold commitment to its people and industries, executing a disciplined strategy for growth.
Fast forward to today: Samsung’s market cap exceeds $260 billion, and Hyundai reported over $120 billion in revenue last year—while Nigeria’s entire 2024 federal budget is about $20 billion. This transformation teaches us a vital lesson: when a nation aligns purpose with policy and ambition with action, incredible possibilities emerge.
At the National Agency for Science and Engineering Infrastructure (NASENI), we see Nigeria’s potential in a similar light. With 220 million people, a median age of just 18, and nearly four million young Nigerians entering the workforce annually, we have the energy and ambition to drive change. However, realizing this potential requires a movement that aligns strategy with action—transforming “Nigeria First” from a mere policy into a shared national priority.
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When President Bola Ahmed Tinubu signed the Nigeria First policy, it was more than a symbolic gesture; it represented a hard reset—a new framework for national development. This shift prioritizes Nigerian-made solutions, innovation, and enterprise. It’s not just about politics; it’s about economics with a purpose.
At NASENI, we view this as a roadmap, not just rhetoric. The data speaks volumes: in Q3 of 2024, Nigeria spent trillions of Naira on imports, much of which could have been directed towards products we can manufacture ourselves—like solar panels, software, machine parts, and furniture. What if we redirected even a fraction of that spending toward homegrown production? What if we chose to invest in ourselves?
