RMRDC's Ike-Muonso Advocates Tinubu's Re-election for Industry

At the second Africa Raw Materials Summit 2026 in Abuja, Ike-Muonso, the Director-General of the Raw Materials Research and Development Council (RMRDC), stated that President Bola Ahmed Tinubu's re-election is crucial for Nigeria's industrial transformation. He argued that continuity in industrial policies would facilitate the establishment of processing plants and manufacturing clusters, moving Nigeria from exporting unprocessed commodities to producing finished goods.

Ike-Muonso warned that policy uncertainty could hinder investments and delay Nigeria's transition to a manufacturing powerhouse. He highlighted the African Continental Free Trade Area (AfCFTA) as a significant opportunity for expanding manufacturing but cautioned that benefits would be limited without adequate manufacturing capacity.

He identified the proposed 30 per cent Raw Materials Value Addition Bill as essential for strengthening domestic processing, requiring at least 30 per cent of primary processing to occur in Nigeria before exports. Senator John Enoh, the Minister of State for Industry, Trade and Investment, supported this legislation, emphasizing the need for Nigeria to capture more value from its natural resources.