Raw Material Industry To Attract $30Bn Investments In Ten Years- Nnaji
By Stella Enenche, Abuja
The Minister of Innovation Science and Technology, Uche Nnaji, has said that the raw materials industry could attract about $30 billion investment into the country in the next ten years.
He made this known on Tuesday at the unveiling of the Nigeria Raw Material Management Information System (RMMIS), and the e-registration portal in Abuja.
Nnaji said with the introduction of the RMMIS portal, the sector would attract
noted that with the RMMIS portal sector will attract both local and foreign investors.
“This platform will empower manufacturers with reliable data for local sourcing, reducing import reliance and boosting domestic production. It will also attract investors, potentially bringing in $30 billion in investments over the next decade through efficient resource management; and finally, it will Strengthen research and development, helping scientists and industrialists explore new product innovations and optimize material use.”
“Policymakers will gain access to empirical data for targeted policies that promote resource efficiency and sustainable extraction. If properly aligned with national industrial policies, this initiative could increase semi-processed mineral exports to $9 billion by 2030.
“With accurate data, the agriculture, mining, and manufacturing sectors can maximize raw material use, fostering job creation and boosting investments by $20 billion in the next decade. This will conserve foreign exchange reserves, potentially saving $10 billion annually while strengthening the naira.Today, we do not just launch a digital tool; we usher in an ara of transparency, efficiency, and resource-driven industrial growth.
“Together, we will build a data-driven economy, where local resources fuel industrialisation, innovation flourishes, and sustainability becomes the foundation of Nigeria’s economic prosperity.
The Director General RMRDC, Martin Ike-Muonso said the RMIMS is an innovation developed by the RMRDC and supported t by critical stakeholders.
“It is a user friendly portal for managing raw materials data.This innovation aims to serve as a key resource for investors, manufacturers, researchers and policy makers by providing advanced tools that support research and development.
” It is a robust technology driven platform designed to enhance data driven decisions, facilitate the research and development, optimise resource allocation, drive industry development, support policy and regulatory framework, and strengthen monitoring and evaluation mechanisms.
“The RMMIS covers all critical and strategic raw materials comprising agricultural, solid minerals and secondary raw materials.
“the RMMIS is a strategic tool that will enhance the outcomes of the made in addition of the Africa raw materials summit that will be hosted by the RMRDC, and is scheduled to take place from May 20 to 22nd 2025 by providing accurate and reliable data, fostering collaboration and networking and enabling informed decisions, by leveraging this system, the summit can achieve more effective planning execution and follow up, ultimately leading to increased impact and more sustainable outcomes in raw materials development, particularly in advancing an integrated raw materials market for Africa.”
The Nigerian Minister of state for trade and investment, John Enoh, said his ministry will give all necessary support to the RMRDC to achieve the 30 percent value addition for improved economic growth.
He also noted the Nigeria is losing huge amounts of money to underdevelopment of the Raw materials sector.
