Nigeria must slash its raw material imports by at least 60 per cent within the next five years if it is to reclaim its place as an industrial powerhouse, according to Professor Nnanyelugo Ike-Muonso, Director General of the Raw Materials Research and Development Council (RMRDC). Delivering a rallying call at the 2025 Nigerian Manufacturing & Equipment/Nigerian Raw Materials Expo in Lagos, Ike-Muonso declared that the nation’s continued dependence on imported production inputs was bleeding jobs, value, and industrial potential offshore.
“It is clear that to reposition Nigeria as an industrial powerhouse, we must reduce foreign raw material imports by at least 60% in the next five years,” the RMRDC chief said. “We must incentivize value addition through technology adoption and tax support, support the emergence of industrial hubs, and deepen research–industry collaboration for tailored innovation,” he added.
His remarks come against the backdrop of sobering data from the National Bureau of Statistics (NBS), which showed that capital inflows into the manufacturing sector totaled just $129.92 million in Q1 2025—merely 2.3 per cent of Nigeria’s $5.64 billion capital importation in the period.
Meanwhile, the sector’s contribution to national GDP declined to 9.62 per cent in Q1 2025, down from 9.8 per cent in the same period last year. “These figures expose a structural weakness,” Ike-Muonso said. “We export raw materials in their crude form, import them in refined quality, and surrender jobs and value offshore before we have even begun,” he added.
Citing data from the Manufacturers Association of Nigeria (MAN), he noted that raw material imports surged 119 per cent to N4.53 trillion in the first nine months of 2024. Alarmingly, over 70 per cent of manufacturing inputs were sourced from abroad—a trend he described as “unsustainable and perilous.”
Yet, amid the grim statistics, the RMRDC boss painted a portrait of promise, underpinned by Nigeria’s abundant natural and human capital. “We are blessed with over 120 commercially viable solid minerals, vast agricultural resources, and a youthful, energetic population,” he said. “What we lack is not potential, but strategic coordination, bold implementation, and technology-backed commitment,” he added.
He urged stakeholders to embrace cutting-edge technologies, champion resource efficiency, and embed sustainability as a core pillar of national industrial policy. Echoing his sentiments, Uche Nnaji, Minister of Innovation, Science and Technology, stressed the centrality of research, infrastructure, and local technology to industrial growth.
“Countries that invest in advanced technologies are growing quickly and creating good jobs, and we must do the same,” Nnaji said “Solving these problems requires teamwork across government, business, and the wider community,” Nnaji noted. To address chronic funding shortfalls in the innovation ecosystem, Nnaji announced the inauguration of an Inter-Ministerial Committee on Research and Development by President Bola Ahmed Tinubu.
Chaired by the Vice President, the committee is tasked with aligning policy and investment with Nigeria’s industrial aspirations. “We are committed to ensuring that every policy and investment in science and technology creates real opportunities for young Nigerians,” Nnaji said. The expo concluded as a clarion call for urgent reforms, deeper collaboration, and bold investments to unlock the full promise of Nigerian industry.
𝗙𝗼𝗹𝗹𝗼𝘄 𝗢𝘂𝗿 𝗪𝗵𝗮𝘁𝘀𝗔𝗽𝗽 𝗖𝗵𝗮𝗻𝗻𝗲𝗹 𝗧𝗼 𝗚𝗲𝘁 𝗟𝗮𝘁𝗲𝘀𝘁 𝗡𝗲𝘄𝘀 𝗔𝘀 𝗜𝘁'𝘀 𝗗𝗿𝗼𝗽!
