The federal government has said it is developing a comprehensive 10-year roadmap to achieve a transformational leap in Nigeria’s raw material value addition, from the current 25 per cent to a target of at least 60 per cent for global commercialization.
This it will do with the support of the African Development Bank (AfDB), the Minister of Science, Innovation and Technology, Chief Uche Nnaji, has said.
“This ambitious goal is not just a number; it represents a bold vision for Nigeria’s future—where our raw materials are no longer exported in their crude form but processed and enriched to maximise their value before leaving our shores,” Nnaji said in Abuja yesterday at the maiden edition of the Raw Materials Research and Development Council (RMRDC) Presentation and Dialogue Session with development partners, diplomatic community, and business councils.
Declaring the business session open, Nnaji said there is a need to have a Nigeria where local industries thrive, creating jobs and opportunities for millions.
Speaking on the importance of increasing the value addition of the nation’s raw materials before export, the minister said, “The importance of improving the value of our raw materials before export cannot be overstated. By doing so, we stand to create more jobs, stimulate the growth of domestic manufacturing and ultimately strengthen the value of the naira.
The Director General of RMRDC, Prof. Nnanyelugo Ike-Muonso, said for the council to achieve the 10-year plan and 60 per cent value addition through data, technology and research and development plant complex, talent and circular building and sustainability and creativity are key areas.
The Country Director of Development Alternatives Inc, Dr Joe Abah, in his keynote address said, “The strategic development, management and conversion of our raw materials into finished products is crucial if Nigeria is to unlock its vast potential and secure sustainable prosperity for its citizens. Nigeria’s economic future can benefit immensely from its raw materials.”
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