By Festus Obot
The Director General of the Raw Materials Research and Development Council (RMRDC), Prof. Nnanyelugo M. Ike-Muonso has identified Africa’s excessive dependence on export of unprocessed raw materials as the bane of the continent’s low industrial development. The DG made this known at a Pre-event Media Briefing ahead of the Council’s first-ever Africa Raw Materials Summit (ARMS) holding from Tuesday, May 20, to Thursday, May 22, 2025 in Abuja.
Prof. Ike-Muonso decried a situation where Africa’s abundant raw materials accounted for over 30% of the world’s strategic raw material deposits ranging from agricultural produce to critical minerals such as lithium, cobalt, graphite and rare earth elements, yet Africa’s economies have continued to operate at lower levels of global value chain due to excessive dependence on exporting unprocessed raw materials.
According to the RMRDC boss, the forthcoming Africa Raw Materials Summit was not another high level gathering but “a continental call to action and a moment for Africa to rise and take its rightful place as a global centre for industrial innovation, value creation and resource sovereignty”, Prof. Ike-Muonso stated.
He highlighted the major aims of the 3-day Summit to include: mobilizing continental consensus around the urgency of industrializing Africa’s resource-base through innovation and value creation, deepening alignment with the African Continental Free Trade Agreement (AFCTA) and Strengthen regional trade and industrial processing linkages, and forging concrete and actionable partnerships among governments, private sector players, researchers, and development financiers to drive sustainable transformation.
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The RMRDC DG reminded his audience that through the 30% Value Addition Mandate Bill currently before the National Assembly, the Council “aims to stem the tide of capital flight caused by unprocessed exports, stimulate local processing industries, create sustainable jobs across multiple sectors, enhance our competitiveness in global markets, and build a strong, self-reliant African industrial base. He described the Bill as not just a policy initiative but a strategic economic common sense and a form of national defence. According to Prof. Ike-Muonso, the African Raw Materials Summit provides the ideal platform for key stakeholders across Africa to deliberate on this landmark initiative, adopt its core principles, and adapt similar policies across the continent.
Over 1,000 participants from various countries across the world have already indicated their interest to be part of the Summit.
