The Honorable Minister of Innovation, Science and Technology Dr. Kingsley Tochukwu Udeh, SAN, advocates for the swift passage of the raw material 30% value addition bill stating that the nation exporting raw materials and importing finished goods has been a pact with poverty but with Raw Materials Research and Development 30% value addition bill, Nigerians can become Architects, Engineers and Innovators of African’s Industrial renaissance.
Udeh made this statement at the National Advocacy and Sensitization Conference organized by Raw Material and Research Development Council (RMRDC)with the theme “Partnering for Implementation of RMRDC 30% Value Addition Bill today in Abuja.”
He further said that the bill is enforceable, measurable and sector specific engine that will drive the principles of the Executive Order No.O5 into the heart of the Country’s economy for the betterment of Nigerians:
Udeh, pointed out that the bill has increased the Gross Domestic Product (GDP) of the Country from 15.6% in 2013 to 25.2% in 2023.He emphasized that the progress is insufficient hence the push for the bill.
The Minister reiterated that the bill is committed to retaining value within our borders, stimulate domestic processing using Nigerian ingenuity, create Industrial jobs and high skilled employment for our youths thereby reducing poverty to the barest minimum.
Dr. Kingsley called on the legislators, private sectors, researchers and academia to work assiduously and ensure passage of the bill, he added that if it is well implemented it will improve the standard of living of the people in the Country.
In his remark the Permanent Secretary, Federal Ministry of Innovation, Science and Technology Mr. Philip Ebiogeh Ndiomu said that the Raw Materials Research and Development Council value addition bill will transform Industrial and economic development of the country for the betterment of the citizens.
He pledged the ministry’s support towards effective implementation of the bill.
Speaking earlier, the Director General of Raw Material Research and Development Council(RMRDC) Prof. Nnanyelugo Ike Muonso said that the bill stands on two important pillars namely; the export constraint and import prohibition pillar, which is the bedrock of the Country’s future industrialization and catalysts that will transform the economy from resource to knowledge based.
In a goodwill message, Mr. Babagana Musti of NEXIM Bank said that the bank core mandate is to strengthen local industries and jobs by boosting domestic processing thereby reducing reliance on imports and value addition locally for socio-economic growth of the country.
Signed
Mrs. Pauline Sule anipr
Head (Press & (PRU)
