Nigeria must reduce its dependence on foreign raw materials by at least 60% over the next five years to reposition itself as an industrial powerhouse, according to Professor Nnanyelugo Ike-Muonso, Director General of the Raw Materials Research and Development Council (RMRDC).
Speaking at the 2025 Nigerian Manufacturing & Equipment/Nigerian Raw Materials Expo in Lagos, Prof Ike-Muonso called for bold reforms to boost local resource utilization and drive industrial transformation.
“It is clear that to reposition Nigeria as an industrial powerhouse, we must reduce foreign raw material imports by at least 60% in the next five years,” Ike-Muonso said. “We must incentivize value addition through technology adoption and tax support, support the emergence of industrial hubs, and deepen research–industry collaboration for tailored innovation.”
The call comes amid data from the National Bureau of Statistics (NBS), which revealed that capital inflows into the production/manufacturing sector stood at $129.92 million in Q1 2025, representing just 2.30% of Nigeria’s total $5.64 billion capital importation in the first quarter.
Prof Ike-Muonso noted that Nigeria’s manufacturing sector contributed just 9.62% to GDP in Q1 2025, down from 9.8% in the same period last year.
“These figures expose a structural weakness,” Ike-Muonso said. “We export raw materials in their crude form, import them in refined quality, and surrender jobs and value offshore before we have even begun.”
He cited data from the Manufacturers Association of Nigeria (MAN) showing that raw material imports surged by 119% to N4.53 trillion in the first nine months of 2024, with over 70% of manufacturing inputs sourced from abroad.
Despite these challenges, Ike-Muonso emphasized Nigeria’s vast potential, pointing to over 120 commercially viable solid minerals, abundant agricultural resources, and a youthful population.
“What we lack is not potential, but strategic coordination, bold implementation, and technology-backed commitment,” he said. “As the world transitions into smart, circular, and efficient production systems, we must not lag.”
He urged the country to integrate advanced technologies, foster resource efficiency, and institutionalize sustainability as a national industrial ethos.
Also speaking at the event, Uche Nnaji, Minister of Innovation, Science and Technology, echoed the call for increased investment in research, infrastructure, and local technology development.
“Countries that invest in advanced technologies are growing quickly and creating good jobs, and we must do the same,” Nnaji said. “Solving these problems requires teamwork across government, business, and the wider community.”
To address funding gaps, Nnaji announced that President Bola Ahmed Tinubu has inaugurated an Inter-Ministerial Committee on Research and Development, chaired by the Vice President, with Nnaji serving as secretary.
“We are committed to ensuring that every policy and investment in science and technology creates real opportunities for young Nigerians,” he added.
The Expo served as a rallying point for stakeholders to confront Nigeria’s industrial challenges and explore pathways to sustainable growth through innovation, local content development, and strategic investment.