No Raw Material Should Leave Nigeria Without 30% Value Addition – Akpabio

Senate President Godswill Akpabio has pledged the support of the National Assembly for the implementation of a law that would mandate a minimum of 30 percent local value addition before any raw material can be exported from Nigeria.

Akpabio made the statement on Wednesday while hosting officials of the Raw Materials Research and Development Council (RMRDC), led by its Director-General, Nnanyelugo Martin Ike-Muonso, at his office in Abuja.

According to a media release by his special assistant on media, Jackson Udom, the Senate President described the proposed amendment to the RMRDC Act as not only essential to Nigeria’s economic progress but also as “a moral compass” that could guide other African nations.

“If any of the values were to be added in Nigeria before exporting them, we would have had at least, a factory for those chains that would have also created jobs for our people outside what the farmers are doing,” Akpabio said.

“Technological shifts would have also come in in terms of innovations.”

Akpabio emphasized the importance of aligning Nigeria’s push for research and development with legislative backing to build stronger value chains across industries.

“It is quite unfortunate that we produce cocoa in Nigeria but end up importing same cocoa products from outside the country at a higher cost and without any input,” he added.

Raw Materials and the Solid Minerals Gap

Commending Senator Onyekachi Nwebonyi, Deputy Chief Whip of the Senate, for initiating the amendment bill, Akpabio drew attention to the solid minerals industry, stating that it is among the worst affected by the lack of value addition.

“The most pathetic is the solid mineral sector because we are not adding any value before we sell it,” he said.

“The result is you sell it at a very cheap rate and if you sum it up, you will see that development in Africa in 2025 is still in a primitive state when it comes to recognising and utilising the potentials available within its domain.

“Poverty is really biting harder because of nothing but ignorance.”

Akpabio called on the council to initiate a grassroots campaign to educate Nigerians, especially young students, on the importance and economic potential of raw materials and solid minerals.

“Nigerians and children in secondary schools should be taught something about raw materials, solid minerals for recognition wherever they found one,” he said.

“We must not allow this to continue. If we now assist you by passing the bill and the president signs it into law, Nigeria would have taken the step to ensure that whatever raw material is to be taken out of this country, must be given added value of at least 30 percent.”

RMRDC’s Optimism

Earlier, RMRDC Director-General Ike-Muonso expressed appreciation for the meeting and said he was hopeful that the National Assembly would back the legislation to strengthen Nigeria’s industrial base.

“We have seen the reforms like the Tax Administration Bills, but the one that concerns us most is the bill to amend the Act of the Raw Materials Research and Development Council, which is primarily to ensure that we do not export raw materials out of the country without it having at least, 30 percent of value-added,” he said.

“It is indeed Nigeria’s and Africa’s number one bill that will change the fortune of this country because Nigeria is a leader in the continent.”

He also extended an invitation to the Senate President to attend the Africa Raw Materials Summit slated for later this month.