A legislative bill aimed at safeguarding Nigeria’s local raw materials processing and production has passed its first reading in the Senate. Sponsored by Senator Peter Nwebonyi (Ebonyi North), the bill is designed to strengthen the nation’s manufacturing sector by promoting domestic processing and reducing reliance on imports.
According to Mr. Chuks Ngaha, Director of Corporate Affairs at the Raw Materials Research and Development Council (RMRDC), the proposed law could pave the way for Nigeria’s industrial growth.
It mandates that at least 30% of all raw materials be processed domestically before export, ensuring value addition and economic sustainability.
Additionally, the bill seeks to protect local industries by prohibiting the import of raw materials that can be sourced within the country, shielding domestic manufacturers from unfair competition and fostering industry growth.
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