• Hausa Edition
  • Podcast
  • Conferences
  • LeVogue Magazine
  • Business News
  • Print Advert Rates
  • Online Advert Rates
  • Contact Us
Wednesday, June 4, 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

‘Nigeria Spends $1.4bn To Import Chemicals In 2022’

by Innocent Odoh
2 years ago
in Business
Share on WhatsAppShare on FacebookShare on XTelegram

 

Advertisement

The director general of the National Research Institute for Chemical Technology (NARICT) located in Zaria Kaduna state, Prof Jeffrey Barminas has disclosed  that in 2022, Nigeria spent over $1.4 billion importing chemical materials, even as he urged the federal government to stop this trend.

Prof Baminas made this known at the special day of NARICT at  ongoing Science Technology and Innovation (STI) EXPO 2023 going on in Abuja, Nigeria’s capital with the theme “ Actualising Effective Diversification of the Nigerian Economy Through STI.”

Professor Baminas added that the importation is on the increase due to the high demand for chemicals in different industries of the federation.

“The little foreign exchange that we have we are still spending a whooping one point four billion dollars in the year 2022, that’s huge, and I believe it is still going to increase because world over, over eight thousand chemicals are produced globally, and those eight thousand chemicals find application in different industries. So it will always be on the rise,” he said.

RELATED

Group Rejects Proposed Amendments To CBN Act

Recapitalisation: 3m Job Losses Looms As 1,500 BDCs Fail Deadline

2 hours ago
With $4bn Market Size, Nigeria’s Islamic Finance Industry To Surge In H2 – Fitch

With $4bn Market Size, Nigeria’s Islamic Finance Industry To Surge In H2 – Fitch

2 hours ago

The NARICT boss said  Nigerian government must take the advantage of its vast resources in chemical technology to produce different profiles of chemicals that are instead being imported into the country.

He lamented that most of the industries that are called chemical industries in Nigeria are merely serving as packaging industries for other nations. He added that despite Nigeria’s enormous human capital and  resources in the chemical sector,  the country is lagging far behind in the industry because it has not taken the chemical Industry as the bedrock of its development and has not made the needed investment in the sector.

“There must be a deliberate policy that will help us to look inward, use backward integration to see how we can produce these chemicals and save our foreign exchange”, he said.

He stressed the centrality of the chemical industry to other allied universal, adding that NARICT has been able to produce different fertilizers and agro-chemical products that are very useful to farmers.

He noted that the textile and garment industry including the leather industry  depend on the chemical industry and called for effective collaboration between allied industries.

He noted that the NARICT bill when passed into law will give the agency the full mandate to fulfill its responsibilities without any hitches even he called for more finding.

The Permanent Secretary of the Federal Ministry of science, technology and Innovation Mrs. Monilola Udoh also stressed that the Chemical technology Industry in Nigeria needs to be strengthened to reduce the level of its importation into the country.

She stated that Nigeria tops the list of countries with the best combination of resources globally but called for more collaboration between the agencies to harness the resources.

 


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



SendShareTweetShare
Previous Post

Usain Bolt Threatens Lawsuit After Losing £10m Life Savings To Hackers

Next Post

Access Banking Group Will Be Nexus To Drive Transformation For Corporation –Wigwe

Innocent Odoh

Innocent Odoh

You May Like

Group Rejects Proposed Amendments To CBN Act
Business

Recapitalisation: 3m Job Losses Looms As 1,500 BDCs Fail Deadline

2025/06/04
With $4bn Market Size, Nigeria’s Islamic Finance Industry To Surge In H2 – Fitch
Business

With $4bn Market Size, Nigeria’s Islamic Finance Industry To Surge In H2 – Fitch

2025/06/04
Zacch Adedeji: The Reformist FIRS Boss’ TaxPro-Max
Business

FIRS Entering New Era Of Excellence, Trust – Adedeji

2025/06/04
Customs Intercepts Bullet Proof Vests, Tokunbo Vehicles, Others Worth N1.2bn
Business

Customs Intercepts Bullet Proof Vests, Tokunbo Vehicles, Others Worth N1.2bn

2025/06/04
MFBs’ Customers Safe With NAMBUIT – NDIC
Business

NDIC Calls For Inputs To IADI Core Principles For Effective Deposit Insurance

2025/06/04
NCC Deploys 84 IT Projects To Support Persons with Disabilities
Business

N250bn Debt Dispute: NCC Shifts USSD Billing To Customers’ Airtime

2025/06/04
Leadership Conference advertisement

LATEST

AC Milan Eye Onyedika

NSF: First Bank Restates Commitment To Youth Engagement Through Sports

Osimhen Is Best Striker In The World – Chelle

2025 Ballon d’Or Is Out Of My Reach – Yamal

Brentford Goalkeeper Flekken Joins Leverkusen

UK Govt Plans Legal Action Against Abramovich To Recover £2.5bn From Chelsea Sale

Fernandes Rejects Saudi Move To Stay At Man Utd

French Open: Sabalenka To Battle Swiatek In Blockbuster Semi-final

Dortmund Confident Of Signing Bellingham

Niger-South Stakeholders Donate N3m To Mokwa Flood Victims 

© 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.