RMRDC's Ike-Muonso Advocates for Value Addition Law

Prof. Nnanyelugo Ike-Muonso, the Director General of the Raw Materials and Research Development Council (RMRDC), announced that the Raw Materials 30% Value Addition bill, once signed into law, will help harness Nigeria's documented $582.4 billion in non-renewable natural resources. Speaking at a press conference in Abuja on October 6, 2026, he emphasized the bill's potential to generate over 1.2 million skilled jobs within five years, save foreign exchange through import substitution, and enhance the manufacturing sector's contribution to GDP.

The RMRDC will host the second edition of the Africa Raw Materials Summit on October 19-20, 2026, focusing on transforming raw materials extracted from Africa into finished products on the continent. Ike-Muonso also mentioned a partnership with the National Innovation Center for Excellence (NICE) in Shanghai, China, aimed at commercializing local research and development.

He called for a more integrated supply chain within Africa to ensure sustainable industrial growth.