The Academic Staff Union of Research Institutions (ASURI) and the National Association for Small Scale Industrialists (NASI) organized a rally in support of a crucial amendment to the Raw Materials Research and Development Council (RMRDC) Act.
The proposed amendment, currently before the National Assembly, seeks to mandate a 30% value addition to all raw materials exported from Nigeria.
Speaking at the rally, Professor Theophilus Ndubuaku, Secretary-General of ASURI, emphasized that the amendment would significantly impact Nigeria’s economy by promoting local industries, job creation, and foreign direct investment.
He highlighted that many developed nations, including China, already enforce value addition policies to enhance their industrial sectors.
“This amendment will change Nigeria’s economic landscape,” Dukwaku stated. “By requiring value addition, we will stimulate industrialization, create employment opportunities, and attract foreign investments. It’s a step toward breaking the cycle of exporting raw materials and importing finished products at higher costs.”
The bill has already passed its first and second readings at the National Assembly and is now moving to the public hearing stage. ASURI and NASI urged lawmakers to ensure its swift passage, emphasizing that small-scale industries would play a key role in implementing value addition processes.
The rally also praised the leadership of the RMRDC Director-General and lawmakers for pushing the initiative forward. Supporters called on the executive arm of government to assent to the bill once it passes through legislative processes.
“This is long overdue, but now that action is being taken, we must see it through,” Dukwaku concluded.
The passage of the bill is expected to boost economic growth, poverty alleviation, and Nigeria’s industrial sector by ensuring that raw materials are processed locally before export. ASURI and NASI vowed to continue advocating for the bill until it becomes law.
At the public hearing held on Wednesday the bill received overwhelming support from all stakeholders
The Bill conceptualized by the Raw Materials Research and Development Council ( RMRDC) and sponsored by Senator Peter Onyekachi Nwebonyi, basically aims at processing raw materials in Nigeria before exporting them .
In their separate presentations , stakeholders like the Ministry of Solid Minerals , Standard Organization of Nigeria ( SON) , Manufacturers Association of Nigeria (MAN) etc , threw their weights behind expeditious consideration and passage of the bill
Representatives of the stakeholders described intendment of the amendment bill as required catalyst to turnaround the fortune of the country from exporting jobs and wealth abroad to generating them here.
Specifically, the Director – General of Raw Materials Research and Development Council , Professor Nnanyelugo Ike Muonso said final consideration and passage of the bill , will stop exportation of wealth and jobs to foreign countries by Nigeria through processing of raw materials before exporting them .
“Today is my happiest day with the 100% support the amendment bill got from the various stakeholders”, he said .
In his closing remarks the Chairman of the Committee , Senator Iya Abbas , said since there was no opposing views to the proposed amendment bill , the committee will accordingly submit its report to the Senate soonest for final consideration and passage .