By| Goodluck E.Adubazi, Abuja
The Director-General of the Raw Materials Research and Development Council (RMRDC), Prof. Nnanyelugo Martin Ike-Muonso, has disclosed that the Council is collaborating with 46 Nigerian universities and other research institutions to promote innovation, technology development and the commercialisation of research findings aimed at accelerating Nigeria’s industrial transformation.
Speaking on the RMRDC remarkable achievement, Ike-Muonso expressed confidence that the proposed legislation mandating a minimum 30 per cent value addition to Nigeria’s raw materials before export would transform the country from an exporter of unprocessed commodities into a competitive manufacturing economy.
He said the bill, currently undergoing legislative and executive consideration, is designed to ensure that raw materials are processed locally before export, ending decades of exporting valuable resources in their raw form.
According to the RMRDC boss, the proposed law would accelerate industrialisation, expand local manufacturing, attract investment in processing facilities, promote technology transfer and create sustainable employment opportunities across the country.
He explained that exporters would be required to achieve at least 30 per cent value addition before raw materials can be exported, a policy he described as critical to retaining more economic value within Nigeria.
Using cocoa as an example, Ike-Muonso noted that processing the commodity into semi-finished or finished products locally would generate significantly greater economic returns than exporting raw cocoa beans.
“The era of exporting our raw materials without adding value must come to an end. Local processing will create industries, generate employment and improve the country’s economic competitiveness,” he said.
He added that the policy would encourage both local and foreign investors to establish processing plants in Nigeria, while reducing dependence on imported finished products.
The Director-General also said the legislation would discourage the importation of raw materials that are readily available within the country, strengthen domestic industries, conserve foreign exchange and improve Nigeria’s trade balance.
Highlighting the Council’s ongoing reforms, Ike-Muonso revealed that RMRDC has attained ISO 9001:2015 Quality Management System certification and developed a second-generation Nigerian Information and Statistical System for Raw Materials and Products, providing investors and manufacturers with comprehensive data on the nation’s raw material resources.
He further disclosed that the Council has developed 47 patented innovations, nearly 600 research outputs ready for commercialisation and more than 70 processing machines to support local industries.
Ike-Muonso said
RMRDC’s partnership with 46 universities and other research institutions is expected to strengthen research, innovation and technology commercialisation, positioning Nigeria to maximise the value of its abundant raw material resources and accelerate sustainable industrial development.
