Turning Point for Nigeria as RMRDC’s 30% Value Addition Bill Awaits Presidential Assent
Nigeria is on the brink of a major industrial transformation as the Raw Materials Research and Development Council (RMRDC) 30% Value Addition Bill moves closer to becoming law, following its successful passage through the third reading in the House of Representatives.
The bill now awaits presidential assent from President Bola Ahmed Tinubu.
Titled “A Bill for an Act to Amend the Raw Materials Research and Development Council Act, No. 28, 2022, to Provide for the Protection and Development of Nigeria’s Local Manufacturing and Processing Industries and Related Matters,” the legislation mandates that all raw materials produced or extracted in Nigeria must undergo at least 30 percent local value addition before being exported.
The landmark bill is designed to accelerate industrialization, create employment opportunities, conserve foreign exchange, and boost Nigeria’s gross domestic product (GDP) by promoting local processing and manufacturing. Once signed into law, it will discourage the export of unprocessed raw materials and spur the growth of value-adding industries across the nation.
The Director-General and Chief Executive Officer of RMRDC, Prof. Nnanyelugo Ike-Muonso, hailed the bill as a “critical piece of legislation” that aligns perfectly with the Council’s mission to strengthen Nigeria’s raw materials base and enhance local manufacturing capacity.
“The Raw Materials Value Addition Bill is a transformative step toward unlocking the full potential of Nigeria’s raw materials sector. Its implementation will create jobs, stimulate economic growth, and reduce poverty while ensuring that value generated from our natural resources remains within the country,” said Prof. Ike-Muonso.
Under Prof. Ike-Muonso’s leadership, the bill gained significant traction through sustained advocacy and collaboration with the 10th National Assembly, industry stakeholders, policymakers, and civil society organizations. These engagements have helped raise national awareness about the strategic importance of local value addition in industrial development.
Industry experts have described the legislation as a “game-changer” capable of reshaping Nigeria’s economic landscape. They note that the policy will enhance export quality, improve the balance of trade, and attract increased investor confidence in the country’s manufacturing sector.
The bill is also expected to create new opportunities for small and medium-sized enterprises (SMEs), allowing them to participate more actively in value chains previously dominated by imported goods. However, experts emphasize the need for supportive infrastructure, reliable energy supply, and easier access to finance to ensure the law’s effective implementation.
The passage of the RMRDC Value Addition Bill marks a decisive step toward realizing Nigeria’s industrial transformation agenda. With presidential assent imminent, the nation stands poised for a breakthrough that could establish it as a leading industrial hub in Africa.
As Nigerians await the President’s signature, the 30% Value Addition Bill stands as a testament to the collective efforts of the National Assembly, RMRDC, and other stakeholders working to build a more resilient, innovative, and self-reliant economy.
