Nigeria must drastically cut back on its reliance on imported raw materials to reposition itself as a major industrial player, according to Professor Nnanyelugo Ike-Muonso, Director General of the Raw Materials Research and Development Council (RMRDC).
Speaking during the 2025 edition of the Nigerian Manufacturing & Equipment/Nigerian Raw Materials Expo held in Lagos, Ike-Muonso emphasised the need for aggressive reforms that promote local sourcing, technological innovation, and robust industry–research collaboration.
“It is clear that to reposition Nigeria as an industrial powerhouse, we must reduce foreign raw material imports by at least 60% in the next five years,” Ike-Muonso said. “We must incentivise value addition through technology adoption and tax support, support the emergence of industrial hubs, and deepen research–industry collaboration for tailored innovation.”
His remarks came against the backdrop of recent figures from the National Bureau of Statistics (NBS), which revealed that only $129.92 million—or 2.30%—of the $5.64 billion capital inflows in Q1 2025 were directed towards the manufacturing sector.
Ike-Muonso also drew attention to the sector’s declining contribution to the national economy, noting a dip from 9.8% to 9.62% of GDP between Q1 2024 and Q1 2025.
“These figures expose a structural weakness,” Ike-Muonso said. “We export raw materials in their crude form, import them in refined quality, and surrender jobs and value offshore before we have even begun.”
Citing data from the Manufacturers Association of Nigeria (MAN), he noted a sharp 119% increase in raw material imports to N4.53 trillion in the first nine months of 2024. Over 70% of the materials used by local manufacturers are still imported.
Despite these challenges, Ike-Muonso highlighted Nigeria’s untapped resources, including a vast array of over 120 commercially exploitable solid minerals, rich agricultural assets, and a vibrant, youthful workforce.
“What we lack is not potential, but strategic coordination, bold implementation, and technology-backed commitment,” he said. “As the world transitions into smart, circular, and efficient production systems, we must not lag.”
He called for widespread adoption of cutting-edge technologies and sustainable practices across industries to align with global industrial standards.
Also speaking at the forum, the Minister of Innovation, Science and Technology, Uche Nnaji, reinforced the urgency of scaling up investment in infrastructure, research, and indigenous technological solutions.
“Countries that invest in advanced technologies are growing quickly and creating good jobs, and we must do the same,” Nnaji said. “Solving these problems requires teamwork across government, business, and the wider community.”
To tackle funding gaps and enhance coordination, Nnaji revealed that President Bola Ahmed Tinubu has established an Inter-Ministerial Committee on Research and Development, chaired by the Vice President and with Nnaji as secretary.
“We are committed to ensuring that every policy and investment in science and technology creates real opportunities for young Nigerians,” he added.
The Expo brought together policymakers, industry experts, and innovators seeking sustainable solutions to Nigeria’s industrial challenges and future growth.
