The federal government has increased efforts to boost the raw material sector, aiming to exploit the sector‘s potential for commercialisation, process Nigeria’s products into finished goods, and end overreliance on imported processed products.
Minister of Innovation Science and Technology Chief Uche Nnaji made this known while unveiling a 10-year roadmap in Abuja on Wednesday, organised by the Prof. Nnanyelugo Martin Ike-Muonso-led Raw Material Research and Development Council (RMRDC), stressing that the target is to achieve 60% value addition, by 2034.
Declaring the Programme Presentation and Dialogue Session with Development Partners, the Diplomatic Community, and Business Councils open, Nnaji emphasised the importance of improving the value of Nigeria’s raw materials before export, citing benefits such as job creation, domestic manufacturing growth, and a strengthened naira.
“The current 25% value addition is unacceptable. We must work together to unlock the immense potential of Nigeria’s raw material sector,” Nnaji said.
The 10-year roadmap, developed with the African Development Bank, outlines vital strategic interventions. These include building critical capacity in circularity and repurposing to ensure efficient raw material utilisation and reduce waste.
The plan also aims to develop relevant databases and management information systems to provide researchers, investors, and industry leaders with access to real-time data.
Much effort is also being made to upgrade raw material testing laboratories and associated technology/machine development workshops, which will advance research, testing, and technology innovation.
Nnaji tasked development partners, the diplomatic community, business councils, and financial institutions to collaborate with the RMRDC to achieve the ambitious target.
“Nigeria’s raw materials sector holds vast potential not just for economic growth but for creating a resilient, self-sustaining industrial base that benefits all Nigerians,” Nnaji said.
The Permanent Secretary of the Ministry of Innovation, Science and Technology, Mrs Esuabana Nko—Asanye, highlighted some of the critical aspects of the 10-year roadmap in her remarks, which she said will define the future of RMRDC and the sector at large.
The critical aspects include the raw Material Management Information System, Research and Demonstration Plant Complex (RDPC), Circularity and Repurposing of Raw Materials and Chemical Markets and Policy Center.
She noted that through these aspects, the government is developing and upgrading a comprehensive management information system with several interconnected databases to support researchers, investors, and industry stakeholders.
She said this platform will house critical data on raw materials, enabling informed decision-making and facilitating investment.
In his keynote address, Dr Joe Abah, Country Director of DAI, urged participants to imagine a future where Nigeria’s raw materials form the backbone of a dynamic, resilient, and sustainable economy. He added that despite the challenges, opportunities are more remarkable.
“Lifting millions out of poverty will require harnessing Nigeria’s vast natural resources and developing them into manufacturing, industrialisation and new technology,” he said.
In his remarks, Fred Kabana from the African Development Bank (AfDB) said that countries on the continent need more investment to exploit the vast products that abound in the region for economic development.
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