The Senate has said President Bola Tinubu is expected to sign the 30 per cent Value Addition Bill into law in November, paving the way for mandatory local processing of raw materials before export.
The Chairman of the Senate Committee on Science and Technology, Senator Aminu Iya Abbas, disclosed this to The PUNCH on Monday on the sidelines of the Second Africa Raw Materials Summit in Abuja, saying efforts were ongoing to secure presidential assent to the proposed legislation.
Abbas said the bill, which seeks to reduce Nigeria’s dependence on exporting unprocessed raw materials, would promote local manufacturing, create jobs and strengthen African economies.
He said, “I am happy that the 10th Assembly passed the Raw Materials Research and Development Council Act Amendment Bill (also known as the 30 per cent Value Addition Bill) last year.
“The bill will soon be transmitted back to us. We are working on it. Hopefully, within the next two or three weeks, it will pass, and Mr President will sign it into law. The way we work, we work as one. Both the executive and the legislative work hand-in-glove for the betterment of Nigeria and Africa as a whole.”
The senator cited an unnamed African country that reportedly rejected plans for a foreign refinery because it wanted to establish its own facility to serve its citizens, describing the move as a model Nigeria and other African countries should emulate.
He said, “I remember recently how one African country said they would not accept a foreign refinery; they want their own so they can sell to their people. That is the spirit. This should also make us proud to process our things from here. You can imagine the number of economies that could benefit from our raw materials.
“Let us come together and work out a workable solution for Africa. In Nigeria, we are playing our part. Once we pass a bill, it becomes a law.”
The Senate approved the bill in July 2025 following the adoption of a report by its Committee on Science and Technology on the amendment of the Raw Materials Research and Development Council Act, 2022.
Sponsored by Senator Onyekachi Nwebonyi, the bill seeks to require at least 30 per cent local processing and value addition to Nigerian raw materials before export. It is aimed at moving the country away from exporting primary commodities with little or no processing.
The proposed legislation is intended to encourage domestic industries to process minerals, agricultural produce and other natural resources locally, create employment opportunities and retain more economic value within the country.
The Director-General and Chief Executive Officer of the Raw Materials Research and Development Council, Prof. Nnanyelugo Ike-Muonso, projected that the policy could generate more than 1.2 million skilled jobs within five years.
Ike-Muonso said the council was working to bridge the gap between research and industrial production through policies promoting local beneficiation, technology acquisition and the development of processing equipment suited to Nigeria’s raw materials.
He said, “Under President Tinubu’s visionary guidance, Nigeria is pioneering a landmark 30 per cent raw materials value addition bill. This groundbreaking legislation mandates that at least 30 per cent of primary processing and beneficiation must take place in Nigeria before any raw material leaves our shelves.
“This is not just a law; it is a structural revolution. RMRDC projects that this single policy framework will unlock over 1.2 million high-value jobs for our young population, attract billions of dollars in foreign direct investment into localised industrial clusters, and add at least $1.2bn annually to our non-export earnings.
“President Tinubu has shown that true leadership means making tough long-term decisions that secure the nation’s future. Continuity in this industrial policy direction is not just desirable but essential.”
Also speaking at the summit, the Minister of State for Industry, Trade and Investment, Senator John Owan Enoh, said Africa’s economic challenge was not a shortage of raw materials but its limited capacity to process them into finished products.
“This is a wake-up call to us as the raw material giant in Africa. Africa is not short on raw materials. What we are short of is the ability to transform those raw materials. What we need to continue doing is to export jobs and prosperity. And that is where we are,” he said.
Enoh urged development partners to invest in local processing, adding that the Federal Government was pursuing industrialisation through the Nigeria Industrial Policy.
He cited a cocoa value addition summit organised by the ministry, themed “From Bean to Brown”, as part of efforts to encourage domestic processing and expand economic opportunities.
The minister said sustainable economic growth and exchange rate stability depended partly on increased productivity and the capacity to add value to locally available resources.
He urged stakeholders at the summit to develop practical recommendations that would translate into measurable improvements in Nigeria’s industrial capacity.