By Modupe Oluremi, Awwal Opeyemi
The Raw Materials Research and Development Council (RMRDC) has reaffirmed its commitment to fostering industrial growth through enhanced utilization of Nigeria’s abundant raw materials, following an industrial assessment visit to Paramot Pure Soya Oil, a groundnut oil processing firm located along the FUTA North Gate corridor in Akure.
A four-member RMRDC technical team, led by Principal Investment Officer Mr. Ajisafe A.S., and comprising Mr. Ale J.S. A , Mr. Imoru B.A. and Mr. Awwal A.O., conducted the assessment. The visit aimed to evaluate the company’s use of local raw materials and its production capacity.
The team was received by Mr. Olayemi Sidiku, Operations Manager of Paramot Pure Soya Oil, who welcomed the Council’s proactive outreach and expressed appreciation for its field-level engagement with indigenous manufacturers.
During the interaction, Mr. Ajisafe outlined RMRDC’s core mission of promoting industrial development through raw material utilization, emphasizing the importance of supporting local enterprises in strengthening Nigeria’s manufacturing sector.
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Mr. Olayemi explained that Paramot Pure Soya Oil operates on a demand-driven production model, packaging exclusively in kegs. The company adjusts its output based on fluctuations in market demand, ramping up during peak periods and scaling down during low-demand cycles.
However, the company faces considerable challenges. Mr. Olayemi identified limited access to financing as the major obstacle hindering production optimization and expansion. He also cited the steep and ongoing rise in oil prices as a major concern, calling the increases “alarming” and detrimental to operational sustainability.
These concerns reflect wider pressures facing Nigeria’s small and medium-scale processors, many of which struggle with unstable market conditions and insufficient policy support. Mr. Olayemi called for stronger government intervention, including financial incentives and stabilization measures to aid local manufacturers.
The RMRDC’s assessment positioned Paramot Pure Soya Oil as a representative case of indigenous processors demonstrating resilience and commitment to local sourcing, despite operating under difficult economic circumstances.
The visit further underscored RMRDC’s hands-on approach to addressing industry realities through direct engagement and field assessments. Insights gathered during the visit are expected to inform policy recommendations aimed at enhancing support for local manufacturers and advancing Nigeria’s industrialization goals.
