The Raw Materials Research and Development Council (RMRDC) has proposed a 30% Raw Materials Value Addition Bill to harness Nigeria's over $582 billion natural resources for industrialisation and job creation. According to RMRDC Director-General, Prof. Nnanyelugo Ike-Muonso, the bill could generate over 1.2 million skilled jobs within five years and reduce pressure on foreign exchange. The proposed legislation aims to strengthen domestic manufacturing and make Nigeria's natural resources a major engine of growth.
Nigeria's soil holds about $582.4 billion worth of documented non-renewable natural resources. Africa is richly endowed with critical minerals, agricultural raw materials, and industrial feedstock, but still vulnerable to external commodity price shocks. The RMRDC Director-General noted that the continent's currencies face avoidable pressure, and youth seek jobs that the raw commodity export model shifts overseas. He spoke at a press conference ahead of the second Africa Raw Materials Summit (ARMS) 2026.
The 2026 summit, themed "From African Feedstock to African Factories," will bring together policymakers, investors, researchers, industrialists, and stakeholders to examine how African resources can be processed on the continent. The summit, scheduled for October 19 and 20, aims to change Africa's traditional model of exporting raw materials without adding value. Chairman of the ARMS 2026 Local Organising Committee, Mrs Rachael Kotso, said the summit would seek to promote value addition across the continent.
The proposed value-addition law serves as the backbone for domestic industrialisation, structured to generate over 1.2 million skilled jobs within five years, save millions in foreign exchange, and rebuild national foreign reserves. The law will also expand manufacturing contribution to GDP. According to Ike-Muonso, the legislation is crucial for Nigeria to attain the prosperity it envisages as a nation.
RMRDC has finalised a South-South Technology Transfer Partnership with the National Innovation Center for Excellence (NICE), Shanghai, China. The partnership will create pathways for commercialising local research and development. Ike-Muonso also called for stronger integration of African supply chains and greater commitment to a circular economy. He noted that true industrial longevity demands a dedicated commitment to a modern circular economy.
A serious global competitive industrial ecosystem wastes nothing, according to Ike-Muonso. The RMRDC Director-General urged stakeholders to support the campaign for greater value addition across the continent. Director of Corporate Affairs, RMRDC, Chinyere Nnamdi-Anum, also urged the media to support the campaign.
The RMRDC's push for the 30% value-addition law and the ARMS 2026 summit demonstrate Nigeria's commitment to harnessing its natural resources for sustainable development. The proposed law and summit aim to promote value addition, industrialisation, and job creation across Africa.
Key points
- The proposed 30% Raw Materials Value Addition Bill could generate over 1.2 million skilled jobs within five years.
- Nigeria's natural resources are worth over $582 billion.
- The Africa Raw Materials Summit 2026 aims to promote value addition and industrialisation across the continent.
