You Might AlsoLike
By Adejare Ibrahim/ Daamilola Toyin
Join Us for the
Africa Raw Materials Summit 2025
The Raw Materials Research and Development Council (RMRDC) has underscored the challenges posed by the importation of raw materials, citing it as a significant impediment to Nigeria’s industrial growth. This came during a recent working visit to Black Horse Plastic Company located in Ibadan, Oyo State, a leading player in the nation’s manufacturing sector.
Speaking during the visit, the Oyo State Coordinator, Mrs. A.M Bakare explained that the visit aims to know the company’s challenges while expressing concern over the heavy reliance on imported raw materials, which she said stifles local production and increases operational costs for manufacturers.
She said the Council is saddled with the responsibility of boosting industrial growth and development in the country and is strategically working under the leadership of Prof. Nnanyelugo M. Ike-Muonso to shift towards fostering local industries and reducing reliance on imported raw materials for sustainable economic growth.
Mrs. Bakare lauded the company for significantly investing in local capabilities. She encouraged them to always source their raw materials locally because every raw material they need is available in the country.
The General Manager of the company, Mr. Ravi commended the RMRDC team for the visit and highlighted some challenges such as the adverse effect of import dependence, including delays in production and fluctuating foreign exchange that leads to price instability. He called for government intervention to boost local raw material production and reduce dependency on imports.
The Assistant General Manager of the company, Mr. Sunday Aboriomoh on his part said that the shortage of forex demand by CBN for imported materials coupled with high electricity tariff are some of the major challenges militating the productivity level of the company.
Join Us for the
Africa Raw Materials Summit 2025
Mrs Bakare emphasized the need for policies that encourage local sourcing and innovation in raw material development. She said this requires major stakeholders to collaborate in finding solutions that would promote the use of indigenous resources.
The RMRDC team took a tour of the facility to see the products of the company which include: plastic chairs, tables, and other plastic products.
