Stakeholders Deliberate On Processing Of Raw Materials Before Exportation

Stakeholders in the raw materials and manufacturing sectors have deliberated on the necessity to process and enriched Nigeria’s raw materials to maximize their value before exporting them.

The deliberations by the stakeholders comes during the maiden edition of the Raw Materials Research and Development Council RMRDC Program Presentation and Dialogue Session with Development Partners, the Diplomatic Community, and Business Councils in Abuja Nigeria’s capital.

During the Dialogue, the Minister of Innovation Science and Technology Uche Nnaji said that the greater utilization of local raw materials will reduce Nigeria’s dependence on imports and position Nigeria as a critical player in the global raw materials value chain.

“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”. He said.

The Minister added that RMRDC with the support of the African Development Bank AfDB, is at the cuff of developing a comprehensive 10-year roadmap to achieve a transformational leap in Nigeria’s raw material value addition, from the current 25% to a target of at least 60%.

“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 maximize their value before leaving our shores”. He added.

He called on development partners, members of the diplomatic community, business councils, and financial institutions to consider it not only desirable but also expedient to collaborate with the RMRDC in these transformative efforts.

“With your support, we can develop the critical capacities necessary to usher in a new era of raw material utilization that will define the future of Nigeria’s industrial landscape. In a special way therefore, I thank the African Development Bank for offering to co-create the 10-year development plan with the RMRDC. This overture is highly commendable. We urge and encourage others to come on stream. Your support will quicken our pace to the desired target”. The Minister said.

The Permanent Secretary Federal Ministry of Innovation Science and Technology Mrs Esuabana Nko-Asanye highlighted some of the critical aspects of the 10-year roadmap which includes Raw Materials Management Information System, Research and Demonstration Plant Complex, Circularity and Repurposing of Raw Materials and Chemical Markets and Policy Center.

“Today’s presentation promises more than a discussion of our plans. It is also a call to action for partnership. We seek your collaboration and technical expertise as we lay out the blueprint for transforming Nigeria’s raw material sector into a global competitive and sustainable ecosystem.” She said.

The Chairman Senate Committee on Science and Technology Senator Abbas Aminu Iya who commended the dialogue by the stakeholders assured that the Parliament will ensure the approval of any policy that will allow for the processing of Raw Materials in Nigeria before exporting out of the country.

The Manager, Natural Resources Management and Investment Centre

African Development Bank Group, Fred Kabanda said that Africa hosts over 60 percent of world’s remaining arable land, and its forests span about 21% to 23% of the continent’s total land mass.

He added that about 75% of Africa’s countries have access offering huge potentials for a blue revolution in Africa, yet, African economies remain among the least developed in the world with the size of economies amongst the smallest compared to other regions.

“In our continuous analysis, we have observed that continued reliance on commodity exports with little value addition leaves the Continent with limited return, and even poorer. The real price of commodity exports has been declining over time, and lack of value addition and beneficiation exports jobs, tax revenues, and growth and has high carbon-footprint.” He said.

He noted that the African Development Bank’s Ten-Year Strategy 2024-2033 and the High 5 agenda of the Bank provide the strategic framework to support African countries with interventions that lead to economic growth and improvement of the quality of life of Africans.

The Country Director DAI, Dr. Joe Abah stated With 44 solid minerals identified nationwide, including substantial iron ore, lead, zinc, and limestone reserves, Nigeria has the natural resources to drive industrialization on a large scale.

He added that the country’s rich agricultural raw materials like cocoa, cotton, and palm oil also play a vital role in global trade.

“Globally, the demand for raw materials is shifting and the opportunities for countries like Nigeria are immense.

The recent focus on renewable energy technologies and battery storage has intensified the need for minerals like cobalt and lithium—both essential for electric vehicles and energy storage.

Nigeria has vast, untapped reserves of cobalt and other valuable minerals. For example, global demand for lithium is expected to increase by 500% by 2050.

“Africa is projected to be a key supplier of the required resources for the world’s $1.6 trillion battery market” Dr Abah said.

The stakeholders agreement that the utilization of local raw materials will reduce dependence on imports and position the continent as a critical player in the global raw materials value chain.

Olusola Akintonde