By Adaora Adibe
The Raw Materials Research and Development Council (RMRDC) has officially launched its Quarterly Statistical Bulletin Series, an initiative aimed at redefining the trajectory of Nigeria’s industrial landscape, providing a cornerstone of data-driven policy formulations, and a vital tool for industrial transformation in Nigeria.
The Director-General of RMRDC, Prof. Nnanyelugo Ike-Muonso, announced this during a press conference held on Friday, January 17, 2025, at the council’s boardroom in Abuja. He explained that the council’s mission has always been clear: to harness Nigeria’s abundant raw materials for sustainable industrial development. He observed that the council had intensified efforts to provide evidence-based data and insights to stakeholders, investors, and policymakers, enabling them to identify opportunities, address challenges, and shape effective policies for economic growth.
“The Quarterly Statistical Bulletin Series is a publication that provides data quarterly on the analysis of Nigeria’s foreign trade (HS Code 01 – 97), which is captured at customs entry points throughout the country by the Nigeria Customs Service and uploaded into the Nigeria Integrated Customs Information System (NICIS2). The quantity and value of imports and exports of these raw materials and products categorized by their respective Double-Digit HS-Code are analyzed to derive key indicators of interest. The publication addresses the country’s raw materials imports substitution/deletion, local utilization rates, and other key components of the economy such as employment, industry, exchange rate, etc,” the DG stated.
Prof. Nnanyelugo emphasized that the Quarterly Statistical Bulletin is more than a publication; he said it is a transformative tool for national development. Stressing also that it shall provide comprehensive and meticulously analyzed data on Nigeria’s foreign trade, raw materials processing, and utilization rates and said it is critical for identifying trends, making informed decisions, and shaping the future of our industries.
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“The Bulletin equips government decision-makers with actionable insights to craft policies that promote local sourcing, industrial growth, and economic diversification. Investors will find invaluable information to identify high-potential areas within Nigeria’s resource-based industries. Industrialists will gain tools to maximize the utilization of local raw materials, reduce costs, and boost competitiveness. Academia can leverage the Bulletin’s rich data for groundbreaking research in material sciences, engineering, and industrial development. The Organized Private Sector (OPS) will find robust opportunities for synergy with the government and other stakeholders to drive sustainable growth”, he said.
The Bulletin also highlights critical challenges facing the manufacturing sector, particularly the dependence on imported raw materials and intermediate goods. The DG observed that through strategic partnerships and focused policies, the following could be achieved:
- Promote backward integration.
- Encourage import substitution and reduce dependency on imports.
- Support value addition and competitive product development.
- Establish appropriate trade barriers to protect local industries.
He also expressed appreciation to key partners who contributed to the success of the initiative such as the Nigeria Customs Service (NCS), the National Bureau of Statistics (NBS), the Manufacturers Association of Nigeria (MAN), and other stakeholders. He noted that their commitment to data sharing and information dissemination has been instrumental in ensuring the Bulletin’s accuracy and reliability.
Prof. Nnanyelugo also informed that the launching of the bulletin calls for all stakeholders to act decisively. He urged members of the press to use the information gathered to educate the public on the importance of the initiative while also reiterating RMRDC’s commitment to continuous collaboration with stakeholders, to develop policies, and to implement strategies that harness Nigeria’s vast raw material resources for sustainable industrial growth.
Earlier in his remarks, the Director, Directorate of Corporate Affairs (DCA) Mr. Chukwma Ngaha urged members of the press to project the initiative to the general public and critical stakeholders while expressing optimism that the bulletin would contribute significantly to addressing gaps in data availability and utilization, thereby boosting Nigeria’s industrial competitiveness.
The event had in attendance directors of the council and various media, who lauded the council’s effort to enhance transparency and data accessibility in the sector.
