FG Restates Commitment To Nigeria’s Global Competitiveness In Raw Materials

The federal government has intensified its commitment to boosting Nigeria’s global competitiveness in raw materials and products development to grow the economy in order to stop over dependence on imported products.

The minister of Innovation, Science and Technology Uche Nnaji made this known during the National Consultative Committee on Competitiveness (NCCC) conference, in Abuja on Tuesday, with the theme “Harnessing Local Resources for Diversifying Nigerian Economy and Enhancing Global Competitiveness Ranking”

The minister stressed that the government is aligning the implementation of the National Strategy with the administration’s priority areas through data mapping and other projects associated with the Strategy focus areas.

The event attracted experts, professionals, policy makers and investors brought together from various sectors to discuss the implementation of the national strategy for competitiveness in raw materials and products development in Nigeria.

The minister emphasised the importance of developing Nigeria’s abundant raw materials into high-quality products, saying “Nigeria has abundant raw materials, from solids, metals and energy minerals to agro-raw materials. However, the mere possession of these resources does not guarantee economic prosperity.

“Developing raw materials into high-quality products is a necessity and a strategic imperative for national growth and global competitiveness.

“I wish to reiterate that our path to global competitiveness lies in leveraging the enormous powers of innovation, science and technology in value-addition and indigenous industrialization.

In his remarks, director general of the Raw Materials Research and Development Council (RMRDC), Prof. Nnanyelugo M. Ike-Muonso, noted that the National Strategy leverages innovation science and technology to boost raw materials.

“This home-grown strategy anchored on applying innovation, science, and technology to raw materials and product development is a unique change agent in our national development initiatives.
Its successful implementation will unquestionably reduce the level of raw materials and products imports into the country,” he said.

Permanent secretary of the Federal Ministry of Innovation, Science and Technology, Esuabana Nko Asanye, who chaired the opening ceremony, encouraged stakeholders to make concerted efforts to achieve the strategy’s objectives.

“I encourage all stakeholders to continue to form strategic coalitions with the resultant production of high-quality and competitive raw materials and products to ensure steady improvement of Nigeria’s ranking on the Global Competitiveness Index.

“The outcome of the conference is expected to contribute significantly to Nigeria’s economic growth and global competitiveness, aligning with the 8-Priority Areas of President Bola Ahmed Tinubu’s Administration,” she added.