{"id":163291,"date":"2025-05-20T21:48:46","date_gmt":"2025-05-20T20:48:46","guid":{"rendered":"https:\/\/www.africa-press.net\/nigeria\/uncategorized\/economy-our-exported-raw-materials-must-undergo-30-local-value-addition-nigerian-senate"},"modified":"2025-05-20T22:54:35","modified_gmt":"2025-05-20T21:54:35","slug":"economy-our-exported-raw-materials-must-undergo-30-local-value-addition-nigerian-senate","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/nigeria\/economy\/economy-our-exported-raw-materials-must-undergo-30-local-value-addition-nigerian-senate","title":{"rendered":"Economy: Our exported raw materials must undergo 30% local value addition \u2013 Nigerian Senate"},"content":{"rendered":"<p><span style=\"color: #ff6600\"><strong>Africa-Press &#8211; Nigeria. <\/strong><\/span>The Senate says no raw material of Nigerian origin shall be exported without undergoing a minimum of 30% local value addition, whether through processing, refining, packaging, or industrial transformation.<\/p>\n<p>Senate President, Goodwill Akpabio, stated this on Tuesday in Abuja while declaring open the Africa Raw Materials Summit.<\/p>\n<p>He said the Nigerian Senate has resolved to be proactive in addressing what he called structural imbalance, reaffirming full legislative backing for the 30 per cent Minimum Value-Addition Bill, currently under consideration.<\/p>\n<p>According to him, the bill is not intended to stifle trade; rather designed to ignite domestic enterprise, create jobs, attract capital, and build resilient value chains that benefit Nigerians, adding that the bold initiative aligns with a broader continental vision.<\/p>\n<p>Akpabio said the historic pattern in which Africa merely supplies inputs while others reap the benefits of innovation, branding, and global market control must be rejected.<\/p>\n<p>He described the proposed law as a \u2018moral compass\u2019 for other African countries, assured that the bill would be passed this week and transmitted to the House of Representatives for concurrence.<\/p>\n<p>He said, \u201cWe extract, yet others manufacture. We export in raw form yet import with added value. This extractive model\u2014fuelled by colonial legacies and sustained by global asymmetries\u2014must now give way to a new paradigm rooted in local processing, regional integration, and sovereign economic vision.<\/p>\n<p>\u201cIn the Nigerian Senate, we have resolved to be proactive in addressing this structural imbalance. It is in this spirit that I reaffirm our full legislative backing for the 30% Minimum Value-Addition Bill, currently under consideration. The bill will be passed in the Senate this week.\u201d<\/p>\n<p>In his remarks, the Minister of Innovation, Science and Technology, Uche Nnaji, described the theme of the summit, \u2018Shaping the future of Africa\u2019s resource landscape\u2019 as apt, given the current state of Africa\u2019s resource utilisation and the need for strategic planning to ensure sustainable development.<\/p>\n<p>He emphasised the importance of harnessing Africa\u2019s vast resources to drive economic growth, industrialisation, and innovation.<\/p>\n<p>\u201cAfrica stands at a defining moment. For too long, we have exported raw potential and imported dependency. The theme of this summit, \u2018Shaping the Future of Africa\u2019s Resource Landscape\u2019, is a continental call to action. A call to industrialise, add value, and create prosperity on African soil.<\/p>\n<p>\u201cValue addition is not optional\u2014it is essential. It is the engine of youth empowerment, SME growth, and economic sovereignty. The Ministry is proud to support initiatives like Nigeria\u2019s 30 per cent Minimum Value-Addition Policy, and through this summit, we aim to inspire aligned action across the continent,\u201d Nnaji said.<\/p>\n<p>Earlier, the Director General and Chief Executive Officer, Raw Materials Research and Development Council, Prof. Nnanyelugo Ike-Muonso, said value addition will build globally competitive African brands rooted in our soil and sweat, deepen regional value chains and ignite intra-African trade in intermediate and finished goods and keep the wealth of Africa within Africa.<\/p>\n<p>Ike-Muonso highlighted the imperative of the summit, noting that it was a moment where Africa could reclaim its narrative, redefine its destiny, and rededicate itself to transforming raw wealth into real wealth, from the soil beneath the feet through the genius within the people of the continent.<\/p>\n<p>\u201cThis summit is not just a dialogue; it is Africa\u2019s proclamation of industrial independence, a renewed consciousness of authentically becoming producers of value rather than exporters of potential,\u201d he said.<\/p>\n<p><strong>For More News And Analysis About <span style=\"color: #ff6600\">Nigeria<\/span> Follow <span style=\"color: #ff6600\">Africa-Press<\/span><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Africa-Press &#8211; Nigeria. The Senate says no raw material of Nigerian origin shall be exported without undergoing a minimum of 30% local value addition, whether through processing, refining, packaging, or industrial transformation. Senate President, Goodwill Akpabio, stated this on Tuesday in Abuja while declaring open the Africa Raw Materials Summit. He said the Nigerian Senate [&hellip;]<\/p>\n","protected":false},"author":84,"featured_media":163290,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[24,15,29,28,2660],"tags":[106,254,53],"class_list":["post-163291","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-economy","category-head-lines","category-homepage-english","category-to-homepage","tag-economy","tag-nigeria","tag-senate"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v26.1 (Yoast SEO v27.0) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Economy: Our exported raw materials must undergo 30% local value addition \u2013 Nigerian Senate - Nigeria<\/title>\n<meta name=\"description\" content=\"The Senate says no raw material of Nigerian origin shall be exported without undergoing a minimum of 30% local value add ...\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.africa-press.net\/nigeria\/economy\/economy-our-exported-raw-materials-must-undergo-30-local-value-addition-nigerian-senate\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Economy: Our exported raw materials must undergo 30% local value addition \u2013 Nigerian Senate\" \/>\n<meta property=\"og:description\" content=\"The Senate says no raw material of Nigerian origin shall be exported without undergoing a minimum of 30% local value add ...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.africa-press.net\/nigeria\/economy\/economy-our-exported-raw-materials-must-undergo-30-local-value-addition-nigerian-senate\" \/>\n<meta property=\"og:site_name\" content=\"Nigeria\" \/>\n<meta property=\"article:published_time\" content=\"2025-05-20T20:48:46+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2025-05-20T21:54:35+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/static.africa-press.net\/nigeria\/sites\/3\/2025\/05\/sm_1747765521.816213.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1600\" \/>\n\t<meta property=\"og:image:height\" content=\"936\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"cfeditoren\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"cfeditoren\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.africa-press.net\/nigeria\/economy\/economy-our-exported-raw-materials-must-undergo-30-local-value-addition-nigerian-senate#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.africa-press.net\/nigeria\/economy\/economy-our-exported-raw-materials-must-undergo-30-local-value-addition-nigerian-senate\"},\"author\":{\"name\":\"cfeditoren\",\"@id\":\"https:\/\/www.africa-press.net\/nigeria\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\"},\"headline\":\"Economy: Our exported raw materials must undergo 30% local value addition \u2013 Nigerian Senate\",\"datePublished\":\"2025-05-20T20:48:46+00:00\",\"dateModified\":\"2025-05-20T21:54:35+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.africa-press.net\/nigeria\/economy\/economy-our-exported-raw-materials-must-undergo-30-local-value-addition-nigerian-senate\"},\"wordCount\":583,\"commentCount\":0,\"image\":{\"@id\":\"https:\/\/www.africa-press.net\/nigeria\/economy\/economy-our-exported-raw-materials-must-undergo-30-local-value-addition-nigerian-senate#primaryimage\"},\"thumbnailUrl\":\"https:\/\/static.africa-press.net\/nigeria\/sites\/3\/2025\/05\/sm_1747765521.816213.jpg\",\"keywords\":[\"Economy\",\"Nigeria\",\"senate\"],\"articleSection\":[\"all news\",\"Economy\",\"head lines\",\"homepage-english\",\"to-homepage\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.africa-press.net\/nigeria\/economy\/economy-our-exported-raw-materials-must-undergo-30-local-value-addition-nigerian-senate#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.africa-press.net\/nigeria\/economy\/economy-our-exported-raw-materials-must-undergo-30-local-value-addition-nigerian-senate\",\"url\":\"https:\/\/www.africa-press.net\/nigeria\/economy\/economy-our-exported-raw-materials-must-undergo-30-local-value-addition-nigerian-senate\",\"name\":\"Economy: Our exported raw materials must undergo 30% local value addition \u2013 Nigerian Senate - 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