By Saheed Adeyemi
In a significant move aimed at revitalizing local industries and fostering economic growth in Osun State, the Raw Materials Research and Development Council (RMRDC) and Abiola Electrical Machinery Company Limited have announced plans to establish a strategic partnership. This collaborative initiative is set to enhance industrial development, particularly in the electrical and manufacturing sectors.
Speaking on the proposed alliance at the Abiola Electrical’s headquarters office, the Osun State Coordinator of RMRDC, Mr. Adeyemi Saheed, emphasized the importance of leveraging the strengths of both organizations to stimulate local industry. “The proposed partnership will enable us to harness our collective expertise and resources to drive industrial growth in Osun,” Saheed said. “Through knowledge sharing, technology transfer, and capacity-building efforts, we aim to contribute meaningfully to the state’s economic development.”
The Managing Director of Abiola Electrical Machinery Company Limited, Engr. Abiola Abbey, echoed this enthusiasm. He noted that the collaboration would unlock new opportunities for innovation, increase production capacity, and improve the quality of locally manufactured products. “This partnership presents a win-win scenario,” Abbey stated. “It will not only elevate our operations but also empower the state’s economy through job creation and value addition.”
During the discussions, Mr. Saheed also introduced the Raw Materials 30% Value Addition Bill currently under consideration at the National Assembly. The bill mandates that raw materials undergo at least 30% local processing before export—a move designed to boost domestic production and stimulate industrial activity.
Engr. Abbey expressed strong support for the initiative, noting its alignment with the company’s vision. “As a manufacturing company, this bill directly supports our goals,” he said. “It provides the foundation for sustainable growth and reinforces the importance of adding value locally.”
Key objectives of the partnership include:
- Promoting industrial innovation through research and development;
- Enhancing local production capacity and product standards;
- Stimulating job creation and inclusive economic growth;
- Developing Osun State’s raw materials sector;
- Fostering a competitive and self-reliant industrial base.
Both parties explored strategies for leveraging the state’s abundant raw materials. Discussions centered on applying R&D-driven approaches to spur industrial expansion and foster a knowledge-based manufacturing ecosystem.
Both organizations expressed optimism about the partnership’s potential impact. As discussions progress toward formalization, stakeholders anticipate that the collaboration will be a transformative force for Osun State, positioning it as a center for industrial excellence and economic resilience.
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