A legislative bill aimed at bolstering local raw material processing and production in Nigeria has passed its first reading in the Senate. Sponsored by Senator Peter Nwebonyi of Ebonyi North, the bill seeks to strengthen the country’s manufacturing sector by encouraging domestic processing and reducing dependence on imported materials.
The proposed law, according to Chuks Ngaha, Director of Corporate Affairs at the Raw Materials Research and Development Council (RMRDC), is a key step toward driving industrial growth across Nigeria.
“This bill has the potential to pave the way for Nigeria’s industrialization by promoting local processing and reducing our reliance on imported raw materials,” said Ngaha.
If enacted, the law would require that at least 30% of all raw materials be processed locally before export, ensuring value addition, economic sustainability, and job creation. The bill also aims to shield domestic manufacturers by prohibiting the import of raw materials that are readily available within the country, thereby protecting local industries from unfair competition.
By reducing raw material imports, the bill is expected to stimulate Nigeria’s industrial growth, promote economic independence, and enhance local capacity. It aligns with Nigeria’s broader goals of **economic diversification and the development of its manufacturing and agricultural sectors.
This legislative move is seen as a strategic win for Micro, Small, and Medium Enterprises (MSMEs) that rely on local raw materials, providing them with better opportunities for growth and reducing costs associated with sourcing materials from abroad.
As Africa’s largest economy, Nigeria’s push to promote domestic production could inspire similar measures across the continent, strengthening regional trade and industrial development.
With the bill advancing through the legislative process, stakeholders from various sectors are expected to lend their support, anticipating a positive impact on local businesses and the wider economy.
In conclusion, this new policy signals a transformative shift towards **local production**, increased value addition, and a more self-reliant Nigeria. If passed, it could mark a significant milestone in the journey to industrialization and economic sustainability for the country.
