The Raw Materials Research and Development Council (RMRDC) has said its proposed mandatory 30 per cent value addition on Nigerian raw materials before export could generate more than 1.2 million skilled jobs within five years. The Director-General of RMRDC, Prof. Nnanyelugo Ike-Muonso, disclosed this on Tuesday at a press briefing in Abuja ahead of the 2nd Africa Raw Materials Summit (ARMS 2026), scheduled for October 19 and 20. He said the proposed Raw Materials 30% Mandatory Value Addition Bill, which is awaiting presidential assent, was designed to shift Nigeria from the export of unprocessed commodities to domestic processing and manufacturing. According to him, the legislation would also help conserve foreign exchange through import substitution, strengthen the country’s foreign reserves and increase the contribution of manufacturing to the economy.
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