Onome Amuge
Nigeria must cut its dependence on foreign raw materials by at least 60 per cent over the next five years to become an industrial powerhouse, according to 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, Ike-Muonso called for a strategic pivot toward local resource utilisation, arguing that the nation’s current manufacturing model is unsustainable.
“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. He advocated for key reforms, including tax incentives for value addition, the creation of industrial hubs, and deeper research-industry collaboration to drive tailored innovation.
The RMRDC director general’s call comes amid concerning economic data. The National Bureau of Statistics (NBS) reported that capital inflows into Nigeria’s manufacturing sector were just $129.92 million in Q1 2025, representing only 2.30 per cent of the total capital imported into the country.
Ike-Muonso highlighted a structural weakness where Nigeria exports raw materials in their crude form only to import them back as refined goods, a process that surrenders jobs and value to other nations. This is supported by data from the Manufacturers Association of Nigeria (MAN), which showed that raw material imports rose by 119 per cent to N4.53 trillion in the first nine months of 2024, with over 70 per cent of manufacturing inputs sourced from abroad.
Despite these challenges, Ike-Muonso emphasised Nigeria’s vast potential, citing over 120 commercially viable solid minerals, abundant agricultural resources, and a large, youthful population. He argued that the country’s main deficiencies are not a lack of resources but rather a lack of strategic coordination, bold implementation, and technology-backed commitment.
Echoing the call for reform, Uche Nnaji, the minister of Innovation, Science and Technology, stressed the importance of investing in research, infrastructure, and local technology. “Countries that invest in advanced technologies are growing quickly and creating good jobs, and we must do the same,” Nnaji stated.
To address funding and coordination gaps, the minister announced that President Bola Ahmed Tinubu has inaugurated an Inter-Ministerial Committee on Research and Development, chaired by Vice President Kashim Shettima. Nnaji affirmed the government’s commitment to ensuring that investments in science and technology translate into real opportunities for young Nigerians. The expo served as a platform for stakeholders to discuss solutions to Nigeria’s industrial challenges and explore pathways to sustainable, innovation-driven growth.
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