Nigeria Targets Major Cut in Raw Material Imports to Unlock Manufacturing Potential

"Why we have made this move about the amendment to the RMRDC bill? [...]. We believe that it is very consistent with the aspirations of the current administration, particularly the Nigeria First Policy [...]. And how would that help? Number one, it will compel people to invest in process technologies. And once you have that happening, improvements in the processing technology, as well as [...] the quality of process materials will begin to happen. [...]. Another effort we are putting together is that we are building one of the largest databases or management information system and to, you know, about raw materials that probably exist in Africa. And the idea is to, let those who use raw materials know where they exist and have pricing information, technical information that will enable them to patronize the raw materials that are in-country [...]. The third one is, the establishment of common processing facilities [...]. If we're able to do it successfully, there's actually no doubts that all the African countries will follow suit. So it's going to be like a playbook [...]. That is also how Africa can escape the, you know, the trap of the colonial economic structure," Professor Ike-Muonso said.