The Raw Materials Research and Development Council (RMRDC) is calling on the rubber industry to support efforts to amend its founding Act to prevent the export of raw materials from Nigeria. The council’s Director-General, Prof. Nnayelugo Ike-Muonso, made this appeal at an investment forum on rubber value chain development in Owerri.
Represented by the Director of the State Industrial Extension Services Department, Chima Obi, Ike-Muonso urged industry stakeholders to back the council’s ongoing push for the Act’s review. He noted that during a public hearing organized by the Senate Committee on Science and Technology on March 5, 2024, in Abuja, the proposed amendment received overwhelming support.
He emphasized that passing the bill would ensure that raw materials are processed before export, preventing the loss of wealth and job opportunities. According to him, value addition is key to economic growth, business expansion, and consumer satisfaction. He stressed that processing raw materials locally increases profitability, creates jobs, and promotes sustainable development.
Speaking on the theme ‘Rebooting Rubber: Transforming Imo’s Agricultural and Industrial Future,’ Emenike Onu, Deputy Vice President of the National Association of Small-Scale Industrialists (NASSI), described the proposed amendment as a crucial step towards economic growth. He urged lawmakers to discourage the export of unprocessed raw materials to boost local industries.
Similarly, Imo State Commissioner for Agriculture and Food Security, Cosmos Maduba, highlighted the importance of rubber plantations, noting that millions of smallholder farmers and large-scale producers rely on the industry for their livelihood.
The amendment seeks to give RMRDC the authority to enforce compliance with its provisions. It also aims to prohibit the export of raw materials in their natural state without at least 30% value addition. The proposed legislation is expected to prioritize domestic production and significantly enhance Nigeria’s local manufacturing capabilities.
Industry experts believe that the bill represents a vital step towards Nigeria’s industrialization and sustainable economic growth. If successfully implemented, it could reduce Nigeria’s dependence on foreign imports and create more opportunities for local businesses to thrive.
