Experts Call for Resource-Driven Industrialization in Nigeria

During the 10th edition of the Bullion Lecture Series organized by the Center for Financial Journalism in Lagos, experts highlighted the necessity of resource-driven industrialization to revive Nigeria's economy. Prof.

Nnanyelugo Ik Muonso, the Director General of the Raw Materials Research and Development Council, stated that without a radical shift towards resource-based industrialization, Nigeria's economic development would remain a distant dream. He emphasized the importance of developing raw materials to create value chains that enhance wealth creation and stabilize the economy.

Mr. Kelvin Oy, a former Director General of the Nigerian Association of Chambers of Commerce, Industry, Mines and Agriculture, argued that value addition to raw materials is essential for attracting stronger economic yields.

He called for supportive policies to empower indigenous businesses and ensure access to capital, warning that poor policy decisions could lead to negative outcomes for local enterprises.