FG, through raw materials information system, targets $30bn investment
Minister of Innovation, Science, and Technology, Mr Uche Nnaji
• Platform to empower manufacturers with reliable data sourcing.
• Reduce import reliance and boosting domestic production.
• Investors will be drawn to Nigeria.
The Federal Government has launched the Nigeria Raw Materials Management Information System, a digital platform designed to enhance industrialisation, attract investment, and optimise the country’s raw material resources.
The initiative, spearheaded by the Raw Materials Research and Development Council, is expected to bring in $30bn in investments over the next decade through efficient resource management.
Speaking at the launch in Abuja on Tuesday, the Minister of Innovation, Science, and Technology, Uche Nnaji, emphasised the potential of the RMMIS to transform Nigeria’s economic landscape.
“The RMMIS is a national digital repository of real-time, accurate, and accessible data on Nigeria’s raw materials. This platform will empower manufacturers with reliable data for local sourcing, reducing import reliance and boosting domestic production. It will also attract investors, potentially bringing in $30bn in investments over the next decade through efficient resource management,” Nnaji stated.
He highlighted how the lack of comprehensive data on raw material reserves, quality, and locations has hindered industrial growth, leading to high import dependence and reduced investor confidence.
“Manufacturers struggle to source reliable local inputs, while investors hesitate due to limited resource visibility. Researchers and innovators also face challenges in developing new products without comprehensive data,” the minister noted.
With the RMMIS, he added, policymakers would have access to empirical data for targeted policies, which could increase semi-processed mineral exports to $9bn by 2030.
Additionally, the agriculture, mining, and manufacturing sectors could maximise raw material use, fostering job creation and boosting investments by $20bn in the next decade.
The initiative is also expected to conserve foreign exchange reserves, potentially saving $10 bn annually while strengthening the naira.
FG, through raw materials information system, targets $30bn investment.
The Minister of State for Industry, Trade, and Investment, Senator John Enoh, stressed the critical role of data in economic development, drawing parallels with leading global companies.
“The difference between countries and companies that have data and those that don’t is massive. This initiative marks a significant milestone in our journey towards self-reliance and sustainable economic development,” he said.
Enoh acknowledged the industrial challenges Nigeria faces due to inadequate data and record-keeping.
He stated, “We must recognise that our industrial manufacturing sector operates at a median of about 5 per cent capacity due to challenges in sourcing raw materials.
This underutilisation cripples our economy and denies people job opportunities,” he explained.
He also pointed out that over 70 per cent of Nigeria’s agricultural inputs are imported, a situation the new system seeks to address.
The minister further underscored the importance of utilising the platform effectively.
“Beyond launching the system, it is crucial that we use it. The raw materials management information system underscores the government’s vision of transitioning from raw material exports to local value addition. This platform will unlock opportunities for industrial expansion, job creation, and technological advancement,” he said.
FG, through raw materials information system, targets $30bn investment
Enoh also cited global best practices, noting that the European Union has implemented similar systems to integrate data, foster innovation, and attract investment.
He urged stakeholders to collaborate in ensuring the success of the initiative. “No country has achieved sustainable development without industrialisation. We must be deliberate in driving this transformation,” he stated.
Speaking at the launch, Director-General and Chief Executive Officer of the Raw Materials Research and Development Council, Prof. Nnanyelugo Ike-Munonso, described the RMMIS as a “groundbreaking initiative” that will provide real-time data for investors, manufacturers, and policymakers.
“The RMMIS is the first of its kind in Nigeria’s manufacturing sector. It will enhance data-driven decision-making, optimise resource allocation, and drive industry development,” he stated.
The system, developed with support from key stakeholders and aligned with the RMRDC’s 10-year roadmap, covers over 17,000 data points on raw materials across Nigeria.
It is expected to strengthen research and development, improve supply chain planning, and attract investment into the sector.
“The success of this initiative depends on active collaboration. We invite government agencies, industries, and development partners to integrate this system with other critical databases to unlock Nigeria’s full potential,” Ike-Munonso added.
The minister called for active participation from government agencies, researchers, private sector players, and development partners.
“Today, we do not just launch a digital tool; we usher in an era of transparency, efficiency, and resource-driven industrial growth. This is President Bola Ahmed Tinubu’s Renewed Hope Agenda in action, bringing Nigeria one step closer to realising its full potential,” he said.
