Akpabio supports Raw Materials Amendment Bill, says it will curb Africa’s export exploitation

The President of the Senate, Godswill Akpabio, has voiced his strong endorsement of the Raw Materials Research and Development Council (RMRDC) Amendment Bill, describing it as a pivotal policy aimed at repositioning Nigeria and Africa in the global raw materials market by ensuring value addition prior to export.

Akpabio made this assertion in Abuja during a meeting with a delegation from the RMRDC, led by its Director-General, Professor Nnanyelugo Martin Ike-Muonso. He emphasised that once signed into law by President Bola Tinubu, the new legislation would serve as a continental standard, compelling African nations to process and add value to their raw materials before exporting them.

“If any of the value had been added in Nigeria before export, we would at least have established a factory for those value chains, thereby creating jobs beyond the agricultural sector. Technological advancements would also arise through innovations,” Akpabio stated.

In a statement released by his Special Assistant on Media, Jackson Udom, the Senate President lamented Nigeria’s predicament as a leading cocoa producer that still relies on importing processed cocoa products at high costs. He highlighted that the lack of local processing and value addition has denied the nation opportunities for economic and industrial growth.

Akpabio also commended the bill’s sponsor, Senator Onyekachi Nweboyin, and criticised the current state of the country’s solid minerals sector, describing it as “regrettable” due to the unregulated export of raw materials without value addition.

“We sell at a significantly low price, and when aggregated, it becomes evident that by 2025, Africa will still be in a rudimentary state regarding the recognition and utilisation of its resources. Poverty continues to intensify due to ignorance,” he remarked.

He urged the RMRDC to increase public awareness and suggested integrating solid minerals and raw material identification into secondary school curricula.

Akpabio assured the Senate’s continued backing for the bill, stating: “If we support you by passing the bill and the President enacts it, Nigeria would have made progress in ensuring that any raw material exported from this country must have at least 30 per cent value added.”

In his address, Professor Ike-Muonso commended the Senate leadership for its commitment to reform and praised the proposed amendment, describing it as a transformative step in Nigeria’s industrial development.

“The amendment of the Raw Materials Research and Development Council Act is the foremost policy tool for Nigeria and Africa to alter the continent’s economic trajectory,” Ike-Muonso stated, as he appealed for Akpabio’s support ahead of the forthcoming Africa Raw Materials Summit scheduled for later this month.