The push to amend the Raw Materials Research and Development Council (RMRDC) Act gained momentum as key stakeholders, including the Academic Staff Union of Research Institutions (ASURI) and the National Association for Small Scale Industrialists (NASI), rallied in support of the bill.
The proposed amendment, currently before the National Assembly, seeks to mandate a minimum of 30% value addition to all raw materials exported from Nigeria.
Advocates believe this legislation will drive industrialization, create jobs, and attract foreign investment by ensuring raw materials are processed locally before being shipped abroad.
Speaking at a rally, ASURI Secretary-General, Professor Theophilus Ndubuaku, emphasized the bill’s transformative potential. “This amendment will end Nigeria’s dependence on raw material exports and usher in an era of local production, economic growth, and global competitiveness,” he stated. “Many advanced economies already enforce such policies, and it is time for Nigeria to follow suit.”
The bill, sponsored by Senator Peter Onyekachi Nwebonyi, has successfully passed its first and second readings and is now in the public hearing stage.
At the public hearing held on Wednesday, the bill received overwhelming support from major stakeholders, including the Ministry of Solid Minerals, the Standards Organization of Nigeria (SON), and the Manufacturers Association of Nigeria (MAN). They described the amendment as a crucial step toward ending the cycle of exporting wealth and jobs while importing finished goods at higher costs.
Professor Nnanyelugo Ike Muonso, Director-General of RMRDC, praised the bipartisan backing for the bill, declaring, “This is a historic moment. The unanimous support from stakeholders confirms that Nigeria is ready to prioritize local value addition over mere resource extraction.”
In his closing remarks, Senator Iya Abbas, Chairman of the Senate Committee on Science and Technology, acknowledged the absence of opposition to the amendment and assured that the committee’s report would soon be submitted for final consideration and passage.
With growing support from both the public and private sectors, stakeholders are now urging the executive arm of government to give prompt assent once the bill clears the legislative process. They believe its enactment will spur economic growth, reduce unemployment, and enhance Nigeria’s industrial competitiveness on the global stage.
ASURI and NASI have vowed to keep the momentum going until the bill becomes law, reinforcing their commitment to an industrialized and self-sustaining Nigerian economy.
