The Director General of Raw Materials Research and Development Council (RMRDC), Professor Nnanyelugo Ike-Muonso, has suggested that for Africa to gain values from its rich natural resources, the continent must be deliberate in capitalizing on its exportations for maximum economic and industrial benefits.
Ike-Muonso said harnessing the great potentials of the continent’s rich mineral and agricultural resources would be the key focus of the maiden edition of the Africa Raw Materials Summit (ARMS) scheduled to hold between May 20th through 22nd, 2025 at the Abuja Continental Hotel, FCT, Abuja with over 1,000 experts from 72 countries expected to be in attendance.
Speaking during a visit to Chi Limited Company in Ajao Estate, Isolo, Lagos, Friday, as part of its continued and sustained efforts to solicit collaboration for the ARMS 2025, Ike-Muonso informed that Africa is indeed blessed with abundant raw materials resources, but regretted that the challenge lies in its ability to harness these raw materials potentials for the benefit of the continent and its people.
“Africa is rich in natural resources; both minerals and agricultural resources, however, the continent has struggled to capitalize on these resources, with many countries exporting without adding value to them. This has resulted in limited economic benefits and a lack of industrial development, which should not be allowed to continue,” he said.
He said the maiden African summit aims to address critical challenges facing the continent’s raw materials industries with special focus on raw materials value addition, economic diversification, industrial growth strategies, investment opportunities and sustainable regional collaboration to enhance Africa’s position in the global raw materials market.
Prof. Ike-Muonso said to address these challenges is the reason RMRDC is organising the first of its kind ARMS with the aim to bring together critical stakeholders across the globe, to interact and share ideas and chart a new course for the development of Africa’s raw materials sector.
He further noted that for the RMRDC project, which will focus on themes such as value addition, industrial development and sustainable economic growth to be a success, all hands must be on deck to actualize the summit’s aims and objectives, therefore calling on key stakeholders to get involved and make the upcoming summit worthwhile.
Earlier in his remark during the visit, the Project Consultant and Chairman Local Organizing Committee of the Summit, Professor Bernard Odoh, enumerated that the historic event aims to bring together over 1,000 experts from 72 countries to discuss strategies for harnessing Africa’s raw materials for economic growth and development of the continent.
He said it is an opportunity for all stakeholders to come together to share ideas, build partnerships, establish mutually beneficial working relationships and develop actionable solutions for unlocking the full potential of Africa’s raw materials sector.
“By participating in the summit, stakeholders can contribute to shaping the future of Africa’s resources landscape and help drive economic transformation.
“The RMRDC is urging all relevant stakeholders, including policymakers, corporate entities, research institutions and the media, to join forces and make this event a success.
“With the participation of key stakeholders like Chi company, the summit is poised to make a significant impact on the industrial sector in Nigeria and beyond,”Odoh said.
Responding, the Director, Public Affairs and Communication, Zainab Balogun and his Procurement counterpart, Emeka Ezeji, who represented Management of the Chivita Foods Limited, pledge its commitment to see how Africa can look onward and harness its abundant resources for the continent’s full benefits.
She expressed happiness at the visit and the invitation extended to them by RMRDC to be part of the maiden summit.
She said this will surely impact Africa, Nigeria and mostly the industrial sector in Nigeria, adding that Chi company appreciates the invitation to partner in the summit.
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