By Tolu Aiyegbusi
DG RMRDC, Prof. Nnanyelugo Ike -Muonso flanked by dignitaries at the African raw materials summit in Abuja.
The Federal Government has shown support for the Raw Materials Research and Development Council (RMRDC) proposed legislation, which seeks to mandate 30 per cent local processing of raw materials before export.
The Senate President, Godswill Akpabio, in his address at the African Raw materials summit on Tuesday in Abuja, described the proposed bill currently before the National Assembly as a transformative step towards securing Nigeria’s economic future.
The senate president, represented by Sen. Aminu Abass, Chairman, Senate Committee’ on Science and Technology, lamented the country’s challenge of exporting raw materials in their crude form while foreign industries reap the benefits of processing.
He said, “The bill currently before the National Assembly is a significant step towards strengthening domestic production and in line with the FG’s Renewed Hope Agenda.
“ It is our collective responsibility to choose the path that will unleash the full potential of Nigeria and secure a brighter future for generations to come.”
According to Akpabio, the extractive model of exporting in raw form yet import with added value must now shift to a new paradigm rooted in local processing, regional integration, and sovereign economic vision.
He added, “ In the Nigerian Senate, we have resolved to be proactive in addressing this structural imbalance.
“ It is in this spirit that I reaffirm our full legislative backing for the 30% Minimum Value-Addition Bill, currently under consideration.”
The senate president said that the bill mandates that no raw material of Nigerian origin shall be exported without undergoing a minimum of 30 per cent local value addition.
“ We recognise that legislation alone is not enough. Institutions must be empowered. No government can do this alone.
“ Our task is to empower African entrepreneurs, SMEs, cooperatives, and young innovators who will turn mineral wealth into exportable machinery, agro-resources into packaged goods, and research into revenue.
“ We must also actively engage our diaspora—Africa’s sixth region—who bring with them not only remittances, but technical knowledge, financing models, and global market access,” Akpabio said.
He commended RMRDC for its strategic leadership in research, industrial innovation, and national resource mapping, a model of possibilities when research meets industrial application.
Akpabio also expressed hope that this model would be replicated across African nations, with regional centres of excellence established to share data, technologies, and best practices in raw material development.
“ In the Senate, we are already aligning our legislative priorities to ensure environmental sustainability, fair trade, and industrial growth.
“We are drafting laws to support climate-smart mining, regenerative manufacturing,”Akpabio said.
He stated that as legislators, they were committed to ensuring that Africa fully leverages the African Continental Free Trade Area (AfCFTA) to foster intra-African processing, technology transfer, and market expansion.
Also peaking, the Director-General of RMRDC, Prof. Nnanyelugo Ike-Muonso, urged Nigerians to take control of their economic destiny.
Ike-Muonso said through the bill, the council aimed to stem the tide of capital flight caused by unprocessed exports, stimulate local processing industries, and create sustainable jobs across multiple sectors.
According to him, the act’s requirement for a 30 per cent value addition to raw material exports would significantly boost investment opportunities in the country, enhance our competitiveness in global markets, and build a strong, self-reliant African industrial base.
“Africa is abundantly endowed with over 30 percent of the world’s strategic raw materials—ranging from agricultural produce to critical minerals such as lithium, cobalt, graphite, and rare earth elements,” the director-general said.
He said,”The country stands at a pivotal moment where the decisions made today will shape its future,” lamenting that the nation’s vast natural resources have long been exploited without translating into real economic gains for its people.
The Minister of Innovation, Science and Technology, Uche Nnaji, described the summit as a continental call to action and stood as a defining moment Africa.
“For too long, we have exported raw potential and imported dependency, this is a call to industrialise, add value, and create prosperity on African soil.
“ Value addition is not optional, it is essential. It is the engine of youth empowerment, SME growth, and economic sovereignty.
“ This is how Africa moves from extraction to transformation—from potential to prosperity,’’ he said.
Nnaji affirmed the ministry’s support for initiatives like Nigeria’s 30 per cent minimum value-addition policy and was deploying digital tools, traceability infrastructure, and research-to-industry pathways to strengthen intra-African trade under AfCFTA.
The News Agency of Nigeria (NAN) reports that the theme of the summit was: ‘Shaping the Future of Africa’s Resource Landscape’.
It had high-powered delegates from across the African continent such as Ghana and South Africa, among others.
The participants also included high-ranking government officials from various Ministries, Departments, and Agencies, financial institutions and corporate partners. (NAN) (www.nannews.ng)