The Raw Materials Research and Development Council (RMRDC) has called on stakeholders in the rubber industry to support its quest for a review of the Act establishing the council.
RMRDC’s director-general, Prof. Nnayelugo Ike-Muonso, said this at a one-day investment forum on the development and rehabilitation of the rubber value chain, in Owerri.
Ike-Muonso, represented by Mrs. Chima Obi, the director, State Industrial Extension Services Department of the RMRDC Headquarters, Abuja, said that the Council is pursuing a bill to amend the Raw Materials Research and Development Council (RMRDC) Act 2022 to inhibit the exportation of Raw Materials in its virgin form in Nigeria.
He said that stakeholders in Abuja gave the Bill overwhelming support during a public hearing organised by the Senate Committee on Science and Technology.
He added that the bill’s consideration and passage will stop Nigeria’s exportation of wealth and jobs to foreign countries through the processing of raw materials before their exportation.
He said this will promote the development of higher-value rubber products in Imo and Nigeria generally.
“Value addition plays a crucial role in fostering economic development, enhancing business growth, and ensuring consumer satisfaction.
“Through transforming raw materials into higher-value products, industries can increase profitability, create employment opportunities, and promote sustainable development,” he said.
Speaking on the theme, “Rebooting Rubber: Transforming Imo’s Agricultural Industrial Future”, Mr Emenike Onu, the deputy vice president, National Association of Small-Scale Industrialists (NASSI) described the proposed amendment as one of the most significant steps towards achieving greater economic growth.
He called for more legislative initiatives that discourage exporting Nigeria’s raw materials in their unprocessed form.
Also, the Imo State Commissioner for Agriculture and Food Security, Mr Cosmos Maduba, said that rubber plantations are a lifeline for millions of smallholder farmers and large-scale producers worldwide.
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
