WATCH THE VIDEO HERE The Raw Materials Research and Development Council (RMRDC) has sought the support of the rubber industry regarding the prevention of raw materials exportation from Nigeria through the amendment of its founding Act, among other measures. RMRDC’s Director-General, Prof. Nnayelugo Ike-Muonso, disclosed this at a one-day Investment Forum on the Development and Rehabilitation of the Rubber Value Chain in Owerri on Monday, according to a NAN report. Ike-Muonso was represented by Mrs. Chima Obi, the Director of the State Industrial Extension Services Department at the RMRDC Headquarters. She urged stakeholders in the rubber industry to support the council’s ongoing quest for a review of the Act establishing the council. According to Obi, “The Council is pursuing a bill to amend the Raw Materials Research and Development Council (RMRDC) Act 2022 to inhibit the exportation of raw materials in their virgin form from Nigeria.” “Value addition plays a crucial role in fostering economic development, enhancing business growth, and ensuring consumer satisfaction. Through transforming raw materials into higher-value products, industries can increase profitability, create employment opportunities, and promote sustainable development,” Obi added. Among other things, the amendment to the RMRDC Act 2022 is aimed at granting the Council the mandate to enforce compliance with the provisions of the proposed bill. The bill was sponsored by Senator Nwebonyi Peter Onyekachi, representing the Ebonyi North Senatorial District, and was first presented to the National Assembly on Tuesday, October 15, 2024. It scaled the second reading on Tuesday, December 10, 2024.
Raw Materials Council seeks Industry’s support on raw materials exportation ban in Nigeria
