-By Festus Obot
The Federal Government has commended the bold move by the Raw Materials Research and Development Council (RMRDC) to increase Nigeria’s raw materials value addition from 25 to 60 percent within the next ten years. The Honourable Minister, Federal Ministry of Innovation, Science and Technology (FMIST), Chief Geoffrey Uche Nnaji gave the commendation at the opening of the RMRDC Maiden Programme Presentation and Dialogue Session at the Council’s headquarters, Abuja on Wednesday, October 9, 2024.
According to the Honourable Minister, “…achieving the target of 60 percent value addition will create a more competitive Nigeria globally and lay the foundation for widespread economic empowerment and poverty reduction…”, he said. Chief Uche Nnaji further emphasized that “Nigeria’s raw materials sector holds vast potential, not just for the growth of our economy but for creating a resilient, self-sustaining industrial base that benefits all Nigerians”. While thanking the African Development Bank (AfDB) for offering to support and co-create the 10-year roadmap with RMRDC, the Hon Minister called on other development partners and financial institutions to consider it expedient and desirable to collaborate with RMRDC in these transformative efforts.
In a presentation showcasing the Council’s programmes, the Director General and Chief Executive of RMRDC, Professor Nnanyelugo Martin Ike-Muonso highlighted critical factors necessary to facilitate the achievement of the Council’s 60% value addition target to include: data and technology, sustainability and circularity, talent and capacity building, and Research and Demonstration Plant Complex. Prof. Ike-Muonso also enumerated four key areas of partnership for systemic change as technical expertise, financial assistance, capacity building, and policy support.
In a keynote address, former Director General of the Bureau for Public Service Reforms and Country Director of DAI, Dr Joe Abah pointed out that it is a matter of concern that Nigeria adds value to only 25% of its vast raw materials which leaves the country vulnerable to rising cost of imported processed goods. He applauded the appointment of Professor Nnanyelugo Ike-Muonso as Director General of RMRDC and expressed optimism that the Council now has purposeful, knowledgeable, and determined leadership to achieve its set target.
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