RMRDC’s 30% value addition bill awaits Presidential assent - ITREALMS

ITREALMS ... making leadership SENSE with digital news!

Nigeria is edging closer to a new era of industrial transformation as the Raw Materials Research and Development Council (RMRDC)’s 30% Value Addition Bill passes its third reading in the House of Representatives and now heads to the desk of President Bola Ahmed Tinubu for assent, reports ITREALMS.

The landmark legislation mandates that all raw materials sourced in Nigeria must undergo a minimum of 30 percent local value addition before export. This policy aims to strengthen domestic manufacturing, reduce capital flight, and enhance the nation’s economic resilience by ensuring that more of Nigeria’s wealth is retained within its borders.

RMRDC Targets 30% value addition policy on export of local raw materials - ITREALMS

ITREALMS ... making leadership SENSE with digital news!

The Raw Materials Research and Development Council (RMRDC) has unveiled a new policy framework aimed at achieving a minimum of 30% value addition on all exports of local raw materials. 

The initiative is designed to boost the competitiveness of Nigeria’s Small and Medium Enterprises (SMEs) and enhance the nation’s industrial base.