From Cyril Mbah, Abuja.
The Director-General of the Raw Materials Research and Development Council, RMRDC, Prof. Nnanyelugo Martin Ike-Muonso, has thrown his weight behind President Bola Tinubu’s second term bid, saying continuity is needed to sustain reforms and drive Nigeria’s $1 trillion economy ambition.
Ike-Muonso spoke in Abuja when the leadership of the Tinubu Support Group, (TSG), led by its Director-General, Dr. Umar Tanko Yakassai, visited the Council to assess its performance under the Tinubu administration.
He said the Renewed Hope Agenda is already creating growth opportunities through policies that promote local production, value addition, investment and job creation, adding that the Council has aligned its programmes with the President’s economic vision.
According to him, Nigeria cannot achieve sustainable prosperity by exporting raw materials unprocessed and importing finished goods made from the same resources at higher cost.
He disclosed that a major initiative being pursued by the Council is a proposed legislation that will make it mandatory for at least 30 per cent value addition to raw materials produced in Nigeria before export.
The RMRDC boss said the bill, which has reached the President and has been referred to the Ministry of Justice for review, will encourage investors to establish processing plants locally, stimulate industrial development, attract foreign direct investment, create jobs and cut dependence on imports.
“Value addition is what makes any country to be like any other country in the developed world. The only difference between us and the developed world is the extent to which we add value to the resources available to us,” he said.
Using agriculture as an example, Ike-Muonso said processing farm produce into finished goods can create employment and business opportunities for millions of Nigerians, especially at the grassroots.
He said the Council is already training women and other groups across the country in mushroom production and other value-addition activities to strengthen local raw-material value chains.
The DG also highlighted efforts to improve access to information on raw materials, noting that the Council has developed the Nigerian Information System for Statistical Information on Raw Materials and Products – a comprehensive platform that provides data on location, producers, suppliers and value chains, linked to other databases to help investors and manufacturers make informed decisions.
He added that the Council recently secured ISO 9001:2015 certification after an international assessment, which he described as proof of its commitment to efficiency, transparency and quality management.
Earlier, Yakassai said the visit was to obtain firsthand information on the Council’s activities, achievements and challenges to enable the TSG communicate the administration’s policies accurately to Nigerians.
He said the TSG coordinated over 5,000 support groups during the 2023 presidential election and has since expanded with thousands more registered to support the administration.
Yakassai commended Ike-Muonso and his team for promoting local raw-material development and industrialisation, stressing that governance is a continuous process and successive governments must build on existing achievements.
The visit comes amid renewed push by the RMRDC to promote local sourcing of industrial inputs and reduce dependence on imported raw materials as part of efforts to expand employment and strengthen the economy.
