Prof. Nnanyelugo Ike-Muonso, Director General of the Raw Materials and Research Development Council, has stated that the Raw Materials 30% Value Addition bill will help harness Nigeria's over $582 billion in natural resources deposits. He made the disclosure on Tuesday in Abuja at a press conference for the second edition of the Africa Raw Materials Summit 2026, scheduled for October 19-20. Ike-Muonso noted that Nigeria's soil holds over $582.4 billion in documented non-renewable natural resources. He added that despite Africa's endowment, vulnerability to external commodity price shocks persists.
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