Process Raw, Prosper Local: Bill to Boost Nigeria’s Industry
ASURI Backs Bill for 30% Raw Material Value-Add
The Academic Staff Union of Research Institutions (ASURI) has expressed its support for the Bill to amend the Raw Materials Research and Development Council Act, 2022.
Prof. Theophilus Ndubuaku, ASURI Secretary General, told the News Agency of Nigeria (NAN) on Friday in Abuja that the passage and implementation of the Bill would end the exportation of raw materials in crude form.
He explained that the Bill would enable local processing and boost domestic manufacturing industries.
Ndubuaku described the proposed amendment as a landmark initiative that would significantly transform Nigeria’s economy.
He emphasised that the Bill aimed to create jobs, reduce dependence on imports, conserve foreign exchange, and promote local production, noting that such practices were common in many countries that export raw materials.
He further stated that if the Bill were passed, it would create opportunities for revenue generation, job creation, poverty alleviation, foreign direct investment, and overall economic growth.
He reiterated that ASURI believed supporting the Bill was a step toward liberating Nigeria from economic stagnation and uplifting its economy.
ASURI, in collaboration with the National Association of Small-Scale Industrialists (NASS) and a Coalition of Civil Society Organizations, organized a solidarity rally on March 5, 2025, in support of the Bill.
The rally coincided with the Public Hearing on the Bill organised by the Senate Committee on Science and Technology.
Ndubuaku explained that the Bill aimed to amend the Raw Materials Research and Development Council Act to ensure 30 per cent value addition for all raw materials exported from Nigeria.
He urged the RMRDC to continue pushing for the Bill’s passage and appealed to the Executive Arm of Government to assent to it after completing the legislative process.
Mr Stephen Eriba, Executive Director of Independent Public Service Accountability Watch, stated that if the Bill was passed and its provisions implemented, mass unemployment in Nigeria would be significantly reduced.
Eriba, speaking on behalf of the Civil Society Coalition, emphasised that the Bill would positively impact Nigeria’s economy by promoting sustainable development and reducing reliance on imported goods. (NAN)
