• Hausa Edition
  • Podcast
  • Conferences
  • LeVogue Magazine
  • Business News
  • Print Advert Rates
  • Online Advert Rates
  • Contact Us
Monday, June 2, 2025
Leadership Newspapers
Read in Hausa
  • Home
  • News
  • Politics
  • Business
  • Sport
  • Health
  • Entertainment
  • Opinion
    • Editorial
  • Columns
  • Football
  • Others
    • LeVogue Magazine
    • Conferences
    • National Economy
  • Contact Us
No Result
View All Result
  • Home
  • News
  • Politics
  • Business
  • Sport
  • Health
  • Entertainment
  • Opinion
    • Editorial
  • Columns
  • Football
  • Others
    • LeVogue Magazine
    • Conferences
    • National Economy
  • Contact Us
No Result
View All Result
Leadership Newspapers
No Result
View All Result

CPPE Opposes Raw Materials Export Restriction Bill

by Leadership News
1 month ago
in News
cppe
Share on WhatsAppShare on FacebookShare on XTelegram

The Centre for the Promotion of Private Enterprise (CPPE) has opposed the raw materials bill before the National Assembly, warning it may harm Nigerian exporters and manufacturers.

Advertisement

This is contained in a statement on Monday by Dr Muda Yusuf, Chief Executive Officer of CPPE.

The News Agency of Nigeria (NAN) reports that the Raw Materials Research and Development Council (RMRDC) bill mandates 30 per cent local value addition before exports.

It also prohibits manufacturers from importing raw materials considered to be available in sufficient local quantities.

Yusuf acknowledged that promoting local value addition appears beneficial and could enhance export earnings.

RELATED

Death Toll Rises To 7 In Bauchi Zakat Collection Stampede

37-yr-old Man Arrested For Raping Own Stepdaughter In Bauchi

2 minutes ago
Suspected Cultists Kill Taxi Driver In Rivers

Suspected Cultists Kill Taxi Driver In Rivers

11 minutes ago

However, he stressed the need for a balanced approach between primary product exporters and local processors.

He called for a thorough assessment of raw material availability before enforcing any ban on imports for manufacturers.

“A win-win approach is needed, not a zero-sum situation that punishes primary product exporters,” Yusuf said.

He warned that thousands of jobs in the primary products export chain could be lost.

“Nigeria’s key non-oil exports include cocoa, cashew nuts, gum arabic, ginger, sesame seeds, shea butter, and crude oil,” he noted.

Yusuf questioned how the 30 per cent value addition would be measured and who would authorise exports under the new rules.

He also raised concerns about how the government would identify which raw materials can be imported and the timeline for implementation.

He says the bill ignores significant challenges affecting local manufacturing and value addition.

“Context matters. We must understand the broader economic challenges before shaping raw materials policy.

“Many agro-processors failed due to poor productivity and competitiveness, not just lack of raw materials,” Yusuf explained.

He listed high energy costs, limited funding, poor logistics, red tape, exchange rate instability, and multiple taxes as major obstacles.

“These issues must be tackled to promote local value addition genuinely,” he said.

Yusuf cautioned that the bill could introduce more corruption through additional layers of export approvals.

He added that regulating exports and imports is outside the mandate of the RMRDC or the Ministry of Science and Technology.

He noted that the Ministries of Finance, Industry, Trade and Investment handle fiscal policy matters.

“The Nigeria Export Promotion Council (NEPC) must also be involved,” Yusuf emphasised.

He said this is vital to assessing the impacts on non-oil exports, manufacturing, and the overall economy.

“It also ensures consistency and coordination in policy making,” he added.

Yusuf urged the National Assembly to halt the bill and advise the RMRDC to concentrate on its core research functions.

He added that import and export rules are usually governed by trade policy, not legislation.

“These policies change with economic conditions and are handled by fiscal authorities,” Yusuf said. (NAN)


We’ve got the edge. Get real-time reports, breaking scoops, and exclusive angles delivered straight to your phone. Don’t settle for stale news. Join LEADERSHIP NEWS on WhatsApp for 24/7 updates →

Join Our WhatsApp Channel

Breaking NEWS: Nigerians can now earn in US Dollars, acquire ultra premium domains for low and sell for super profit. Our client acquired a domain for $3715 and got it sold for $42,000. Click here to see how you too can profit from the business.


Tags: Centre for the Promotion of Private Enterprise (CPPE)
SendShareTweetShare
Previous Post

Easter Fun Seekers Flock Lagos Theme Park

Next Post

FG Kicks As Truck Damages Almost-completed Lotto Bridge

Leadership News

Leadership News

You May Like

Death Toll Rises To 7 In Bauchi Zakat Collection Stampede
News

37-yr-old Man Arrested For Raping Own Stepdaughter In Bauchi

2025/06/02
Suspected Cultists Kill Taxi Driver In Rivers
News

Suspected Cultists Kill Taxi Driver In Rivers

2025/06/02
Akpabio Apologises To Natasha Over ‘Night Club’ Comment
News

Akpabio Planned My Suspension For Refusing Corruption Demands – Natasha

2025/06/02
Eid-el-Kabir: Tinubu Donates Rice, Cows To Abuja National Mosque
News

Eid-el-Kabir: Tinubu Donates Rice, Cows To Abuja National Mosque

2025/06/02
Chinedumuije Urges Tinubu To Stop Foreign Loans For Infrastructural Projects
Business

Tech Expert Urges Business Owners To Use Data For Experiential Engagement

2025/06/02
Cervical Cancer: Kwara To Vaccinate Schoolgirls
News

Police Recover 15 Stolen Vehicles In Enugu

2025/06/02
Leadership Conference advertisement

LATEST

37-yr-old Man Arrested For Raping Own Stepdaughter In Bauchi

Suspected Cultists Kill Taxi Driver In Rivers

Akpabio Planned My Suspension For Refusing Corruption Demands – Natasha

Eid-el-Kabir: Tinubu Donates Rice, Cows To Abuja National Mosque

Tech Expert Urges Business Owners To Use Data For Experiential Engagement

Police Recover 15 Stolen Vehicles In Enugu

JUST-IN: Again, 48 Farmers Killed In 2 Benue Communities

Poly Students To Hold 1 million-man March In Honour Of Tinubu

CSOs Score Tinubu High On SDGs, Youth Development

Tinubu’s Aide Tasks Women On Entrepreneurship As Pink Fleur Unveils ‘Noor Collection’

© 2025 Leadership Media Group - All Rights Reserved.

No Result
View All Result
  • Home
  • News
  • Politics
  • Business
  • Sport
  • Health
  • Entertainment
  • Opinion
    • Editorial
  • Columns
  • Football
  • Others
    • LeVogue Magazine
    • Conferences
    • National Economy
  • Contact Us

© 2025 Leadership Media Group - All Rights Reserved.