The Federal Ministry of Innovation, Science, and Technology has unveiled an ambitious 10-year roadmap aimed at transforming Nigeria's raw material sector, with a goal of achieving 60 percent value addition by 2034.
This announcement was made by Chief Uche Geoffrey Nnaji, the Minister of Innovation, Science and Technology, during a Program Presentation and Dialogue Session held in Abuja on Wednesday.
Minister Nnaji highlighted the critical need to enhance the value of Nigeria's raw materials prior to export. He articulated that this initiative is expected to yield significant benefits, including job creation, the expansion of domestic manufacturing, and a stronger naira.
He stated, “The current 25% value addition is unacceptable. We must work together to unlock the immense potential of Nigeria’s raw material sector.”
The roadmap, developed in partnership with the African Development Bank, outlines several strategic interventions designed to bolster the sector.
These include initiatives aimed at enhancing capacity in circularity and repurposing, which are essential for optimizing raw material utilization and minimizing waste.
Furthermore, the plan emphasizes the establishment of relevant databases and management information systems to provide researchers, investors, and industry leaders with access to real-time data.
Upgrading testing laboratories for raw materials and advancing technology development workshops are also key components intended to foster research and innovation.
