By Adaora Adibe
The Minister of Innovation, Science and Technology, Barr. Kingsley Tochukwu Udeh, has called for sustained national backing for the 30% Raw Materials Value Addition Bill as the country awaits President Bola Ahmed Tinubu’s assent. The minister made the appeal on Friday, 28 November 2025, during the RMRDC National Advocacy and Sensitization Conference on the Value Addition Bill, held at the Raw Materials Research and Development Council (RMRDC) headquarters in Abuja.
Udeh emphasized that the bill has enjoyed overwhelming stakeholder endorsement, noting that during the National Assembly public hearing, the proposal received “99.9% support” due to its strategic importance to Nigeria’s economic transformation. He said the latest engagement is aimed at sustaining public interest as the bill approaches the final stages of becoming law.
According to him, preparations must begin in earnest to ensure seamless implementation once the legislation is enacted. He highlighted the role of strong institutions such as NEXIM Bank, noting its proposed recapitalization to ₦1 trillion as a key driver for enabling industries to meet the value-addition requirements.
“This bill aligns with the Renewed Hope Agenda and with the President’s first policy directive,” Udeh said. “We must get ready and take off immediately. This law will reshape Nigeria’s economic landscape, attract foreign investors, deepen markets and position our over 200 million citizens for improved economic participation,”
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He emphasised the need for a multisectoral approach, stressing that infrastructure, security, and institutional collaboration are essential to achieving the bill’s objectives, which he described as a “National Economic Intervention.”
“For decades, our economy, built on exporting raw materials and importing finished goods, has been a conveyor belt of poverty,” he said. “It exports our wealth and imports unemployment. Today, we gather to break that cycle,” the Minister Stated.
Udeh added that Executive Order No. 5, established in 2018, has long served as Nigeria’s compass for transitioning from consumption to capability. The Value Addition Bill, he explained, would legally entrench the principles of the executive order by mandating a 30% benchmark for domestic value addition, fostering local content, industrial jobs, and high-skilled employment for Nigerian youths.
He called on industrialists, researchers, and other stakeholders to work collectively, emphasizing that “it is more than a bill, implementation must be a joint commitment,” he asserted.
In his welcome address, the Director-General of RMRDC, Prof. Nnanyelugo Ike-Muonso, reaffirmed his commitment to repositioning the Council, stating that the bill represents the backbone of Nigeria’s industrial future. He stressed that achieving at least 80% utilization of domestic natural resources in manufacturing is crucial for sustainable industrialization.
“This bill is the bedrock of our future industrialization,” he said. “It will halt the export of unprocessed raw materials, stimulate nationwide processing and manufacturing industries, and generate massive employment opportunities, especially for SMEs, the foundation of our industrial ecosystem.”
The DG expressed appreciation to the Senate President Senator Godswill Akpabio; the bill’s sponsor, Senator Onyekachi Nwaebonyi; Chairman of the Senate Committee on Science and Technology; Senator Aminu Iya Abbas, and others, for their roles in pushing the bill forward.
Delivering the keynote address, a senior professional in the Strategic Planning Department of NEXIM Bank, Dr. Babagana Mala Musti commended the National Assembly and RMRDC for advancing the bill. He outlined both the long-term benefits and short-term challenges expected during implementation.
He warned that exporters may face temporary restrictions if unable to meet the 30% value-addition threshold immediately, an issue currently affecting the shea nut sub-sector. He also noted that businesses may initially grapple with higher operating costs arising from new equipment, technology upgrades, and skilled labour requirements.
Central to addressing these challenges, he said, is the proposed recapitalization of NEXIM Bank from N50 billion to N1 trillion, which he described as “absolutely necessary.” The expanded mandate of the bank, particularly under the Value Addition Bill and the demands of the African Continental Free Trade Area (AfCFTA), will require significant financing capacity to support industrial processors, mitigate risks, and manage transitional disruptions.
“With this essential recapitalization, NEXIM Bank will be better positioned to deploy and support the 30% Value Addition Bill,” he affirmed.
Other notable contributions came from the President of the Manufacturers Association of Nigeria (MAN), Otunba Francis Meshioye, as well as Senator Nwaebonyi, who was represented at the event. The engagement also drew a strong attendance of policymakers, diplomats, development partners, and other industry leaders.
A panel session was also held to further deepen discussions on the bill’s significance and to reinforce the shared commitment to driving Nigeria’s industrial renaissance through its swift implementation. The Value Addition Bill is widely regarded as a transformative step toward repositioning the nation as a production-driven economy.
The 360 Raw Material Online Media conducted exclusive interviews with key stakeholders, including the MAN President, Otunba Francis Meshioye, who described the 30% Value Addition Bill as a major catalyst for transforming Nigeria’s industrial landscape. Similarly, NEXIM representative, Dr. Babagana Mala Musti, emphasized the need for all stakeholders to work collaboratively to ensure the bill is fully implemented once it receives presidential assent.
