Stakeholders at Abuja Summit Push for Raw Materials Investment

At the second Africa Raw Materials Summit 2026 held in Abuja, stakeholders including government agencies, researchers, financial institutions, and industry experts urged African nations to transition from exporting raw commodities to resource-based manufacturing. Professor Nnanyelugo Ike-Muonso, Director-General of the Raw Materials Research and Development Council (RMRDC), emphasized that Africa must maximize the value of its natural resources to foster industrial development, create jobs, and enhance economic benefits for its population.

He expressed concern over the underutilization of these resources. Dr Benjin Luo, Secretary-General of the World Association of Industrial and Technological Research Organisations (WAITRO), stated that Africa could achieve industrial transformation in 10 to 20 years by building a strong innovation ecosystem and learning from countries like China.

He highlighted electric tricycles as a potential area for collaboration. Dr Olushola Odusanya, Director-General of the National Centre for Technology Management (NACETEM), pointed out the importance of Nigeria's youthful population in driving industrial development.