Nigeria Introduces 30% Value Addition Bill to Boost Local Processing and Industrialization
The Federal Government of Nigeria is pushing a bill that mandates a 30% value addition to raw materials before export to reduce the drain on raw materials, increase local processing, and create job opportunities. Nigeria exported raw materials worth N1.87 trillion in the first half of 2025, representing a 159% increase from the previous year.
The bill aims to promote industrialization by processing products like cassava into starch, chips, flour, ethanol, and garri for export, thereby boosting manufacturing, supporting SMEs, reducing import bills, and attracting investors to set up processing plants in Nigeria.
Plus234Feed summary based on reporting from Daily Trust. Read the original report below.
Read full article
Continue on Daily Trust
Get the week in one email
Top stories, NPFL results, the naira — every Friday morning. Free, one email a week.
Related Stories
Nigeria Urges Local Processing of Raw Materials to Boost Economy
Nigeria Government Plans to Boost Cassava Industrialization for Economic Growth
Nigerian Government Suspends 15% Import Duty on Petrol and Diesel
Nigerian Government Imposes 15% Duty on Imported Fuel to Protect Local Refineries
Dangote Urges Nigerian Govt to Strengthen 'Nigeria First' Policy for Local Industries
Nigeria Unveils Reforms to Drive $1 Trillion Economy, Focus on Investment and Productivity
Get Plus234Feed on messaging apps
Same headlines, delivered where you already scroll.
