Nigeria must cut its reliance on foreign raw materials by at least 60 per cent within the next five years to reclaim its place as an industrial leader, says Professor Nnanyelugo Ike-Muonso, Director General of the Raw Materials Research and Development Council.
Speaking at the 2025 Nigerian Manufacturing & Equipment/Nigerian Raw Materials Expo in Lagos, Prof. Ike-Muonso urged sweeping reforms to enhance local resource use and accelerate industrial growth.
“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,” Ike-Muonso 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.”
The call comes against the backdrop of recent data from the National Bureau of Statistics, which showed that capital inflows into Nigeria’s production and manufacturing sector totaled $129.92 million in Q1 2025—just 2.30% of the country’s total capital importation of $5.64 billion for the period.
Prof. Ike-Muonso also highlighted a slight decline in the sector’s performance, noting that manufacturing contributed only 9.62 per cent to GDP in Q1 2025, down from 9.8 per cent in the same quarter of the previous 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 referenced data from the Manufacturers Association of Nigeria, which revealed a 119 per cent surge in raw material imports to N4.53 trillion in the first nine months of 2024, with over 70 per cent of manufacturing inputs still sourced from abroad.
Despite the prevailing challenges, Ike-Muonso underscored Nigeria’s strong potential, citing more than 120 commercially viable solid minerals, rich agricultural resources, and a dynamic, youthful population.
“What we lack is not potential, but strategic coordination, bold implementation, and technology-backed commitment,” he said. “As the world transitions into smart, circular, and efficient production systems, we must not lag.”
He urged Nigeria to adopt advanced technologies, promote resource efficiency, and embed sustainability as a core principle of its industrial strategy.
Also speaking at the event, Minister of Innovation, Science and Technology, Uche Nnaji, reinforced the call for greater investment in research, infrastructure, and the development of indigenous technologies.
“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.”
