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In a bid to transform the raw material sector in the country, the Federal Ministry of Innovation, Science, and Technology has launched a 10-year roadmap with a target of achieving 60 per cent value addition by 2034.
The Minister of Innovation, Science and Technology, Chief Uche Geoffrey Nnaji, revealed this at the Programme Presentation and Dialogue Session with Development Partners, the Diplomatic Community, and Business Councils in Abuja.
Nnaji underscored the need for improving Nigeria’s raw materials value before export, citing benefits such as job creation, domestic manufacturing growth, and a strengthened naira.
He said, “The current 25% value addition is unacceptable. We must work together to unlock the immense potential of Nigeria’s raw material sector."
Speaking about the 10-year roadmap, Nnaji stated that it was developed in collaboration with the African Development Bank.
The purpose according to him is aimed at "building critical capacity in circularity and repurposing to ensure efficient raw material utilisation and reduce waste.
"The plan aims to develop relevant databases and management information systems to provide researchers, investors, and industry leaders with access to real-time data.
"Furthermore, upgrading raw material testing laboratories and associated technology/machine development workshops will advance research, testing, and technology innovation."
He called on development partners, the diplomatic community, business councils, and financial institutions to collaborate with the Raw Materials Research and Development Council (RMRDC) to achieve the ambitious target.
