Nigeria plans 30% value-addition for industrial growth
The RMRDC Director-General stated the plan aims to boost local manufacturing and resource utilization.
Nigeria's government is implementing a 30% value-addition plan to foster industrial wealth across the nation. This initiative was announced by RMRDC Director-General, Prof. Nnanyelugo Ike-Muonso, at the Second Africa Raw Materials Summit held in Abuja.
The plan focuses on increasing the local processing of raw materials to create more finished goods within Nigeria. Prof. Ike-Muonso highlighted the importance of this strategy for developing the country's manufacturing sector and reducing reliance on imported products.
The summit provided a platform for discussions on leveraging Africa's raw materials for economic development. The value-addition target is expected to stimulate investment in local industries and create new employment opportunities.
Why it mattersThe value-addition plan aims to create industrial wealth and boost local manufacturing in Nigeria.