Business
National Nanotech Centre in View as RMRDC DG Chairs African Conference at UNN

By: Stella Azi
In a bold stride toward advancing Nigeria’s position in cutting-edge science and technology, the Director General and Chief Executive Officer of the Raw Materials Research and Development Council (RMRDC), Prof. Nnanyelugo Martin Ike-Muonso, has reaffirmed the Council’s commitment to harnessing nanotechnology as a strategic lever for industrial transformation.
This declaration came as he chaired the opening session and delivered the keynote address at the 6th African Conference/Workshop on Applications of Nanotechnology in Energy, Environment, Agriculture, and Health, held on July 14, 2025, at the University of Nigeria, Nsukka (UNN).
The conference, hosted by UNN’s Nano Research Group in collaboration with OilServ Group Ltd., brought together experts, academics, and innovators from across Africa to explore how nanotechnology could provide African solutions to African challenges. Against this backdrop, Prof. Ike-Muonso delivered a stirring keynote titled, “Nanotechnology as a Catalyst for Industrial Transformation in Africa,” setting the tone for the sessions that followed.
In his keynote, he laid out a visionary roadmap, asserting that Nigeria’s future industrial and economic competitiveness will not hinge on the sheer volume of its raw materials but on its capacity to transform them through innovation, research, and strategic partnerships, particularly in the emerging field of nanotechnology.
“We are at the cusp of a new era,” he said with conviction. “The success of countries in this century will be defined not by the volume of their raw materials, but by their capacity to transform them through innovation, and nanotechnology provides us that leverage.”
He then delved into five key sectors where nanotechnology can serve as a game-changer for Nigeria and Africa at large:
In the energy and power sector, he stressed the urgent need for Nigeria to reduce its dependence on imported batteries and instead develop homegrown lithium battery technologies.
The DG pointed out that efficiency, lifespan, and affordability of modern batteries can be vastly improved through nanotechnology, enabling energy independence and powering the shift toward clean mobility and decentralized power systems.
When addressing environment and pollution control, the DG highlighted the potential of nano-based materials in removing heavy metals, purifying water, and detoxifying polluted soils, particularly in the oil-impacted regions of the Niger Delta.
“We can no longer treat the environment as an afterthought. Nano-remediation can give us a second chance,” he asserted, calling for urgent integration of advanced remediation technologies into environmental policy.
On agriculture and food security, he explained how nano-encapsulated pesticides and fertilizers could improve crop yield, minimize post-harvest losses, and help farmers combat pests and diseases more effectively — aligning squarely with the federal government’s strategic push toward agricultural transformation.
In the health sector, Prof. Ike-Muonso emphasized nanotechnology’s role in targeted drug delivery, advanced diagnostics, and the development of biosensors.
He particularly underscored its relevance for the early detection and treatment of major diseases like cancer, tuberculosis, and malaria, noting that such advancements could revolutionize healthcare delivery across Nigeria.
Talking on industry and raw materials development, the DG reiterated RMRDC’s core mandate to add value to Nigeria’s vast natural resource base. He noted that with nanomaterials, nano-coatings, and smart composites, Nigeria could significantly boost product quality, shelf life, and global competitiveness; essential ingredients for achieving economic diversification and self-reliance.
Still in his keynote address, Prof. Ike-Muonso announced that RMRDC would be partnering with the University of Nigeria to establish a Nanotechnology Center that would serve as a national hub for nanotech-enabled innovation and industrial research.
He explained that the establishment would follow a two-phase rollout. The first phase would see the Centre set up at the RMRDC Research Demonstration Complex in Abuja, where UNN experts will train RMRDC staff and help build internal capacity, while the second phase would involve the creation of a full-fledged center at UNN Nsukka, thereby solidifying the university’s role as a centre of excellence in nanoscience and technology.
Prof. Ike-Muonso was taken on a guided tour of the University’s Nanotechnology Laboratory by members of the Nano Research Group led by a lecturer in the Department of Astronomy and Coordinator of the University’s battery production project, Dr. Chinwe Nwanya.
The DG expressed admiration for the laboratory’s advanced equipment, the evident commitment of the researchers, and the high-quality results already emerging from the work being done.
Dr. Nwanya gave a compelling overview of the University’s pioneering lithium battery project, which she said began in 2017, inspired by her academic visit to Cambridge University. That experience led her to secure a FLAY Research Grant, which launched the project formally at UNN.
She said since then, the research group has achieved significant milestones, including the production of lithium coin batteries capable of powering small electronics such as wristwatches, calculators, and remote controls.
“We have the machines; we have the manpower. We are ready for the next phase, which is mass production for industrial applications, “but we cannot go far without institutional support. That’s why this partnership with RMRDC is historic and strategic,” she explained.
In response, Prof. Ike-Muonso assured the University of RMRDC’s commitment to seeing the battery innovation project through to commercialization. He stressed that the Council would not only provide technical and institutional support, but would also mobilize national stakeholders to facilitate the adoption of the research outcomes within the country’s broader industrial landscape.
According to the DG, with the convergence of visionary leadership, academic innovation, and industrial policy, the conference marked a strategic turning point for nanotechnology in Nigeria. It underlined RMRDC’s resolve to be at the helm of driving innovation-driven industrialization, while positioning UNN as a key partner in shaping a sustainable technological future.
“We will not merely import the future, we will build it here,” Prof. Ike-Muonso concluded.
Business
NEXIM Bank Secures Bbb+ Rating from Agusto & Co., Declares ₦30.47 Billion Operating Profit

By Joel Ajayi
The Nigerian Export-Import Bank (NEXIM) has been assigned a Bbb+ rating by leading credit rating agency Agusto & Co. Limited, affirming its satisfactory financial condition and strong capacity to meet obligations relative to other development finance institutions (DFIs) in Nigeria.
For the year ended 2024, NEXIM Bank reported an operating profit of ₦30.47 billion, more than double the ₦13.75 billion recorded in the previous year. This remarkable growth underscores the Bank’s financial resilience and operational efficiency.
Established to promote Nigeria’s non-oil exports and support import-substituting businesses, NEXIM is fully owned by the Federal Government of Nigeria through equal shareholding by the Central Bank of Nigeria (CBN) and the Ministry of Finance Incorporated (MOFI).
The Bank has sustained strong liquidity and capital adequacy ratios, alongside notable growth in its loan book and equity investments. Key sectors supported include manufacturing, agriculture, solid minerals, and services.
According to Managing Director, Mr. Abba Bello, NEXIM has intensified its intervention in the non-oil export sector, disbursing over ₦495 billion and facilitating the creation and sustenance of more than 36,000 direct and indirect jobs.
Among the Bank’s key initiatives are:The Regional Sealink Project: A public-private partnership designed to improve maritime logistics across West and Central Africa. Promotion of Factoring Services: Offering alternative export financing solutions for SMEs. And Joint Project Preparation Fund (JPPF): Implemented in partnership with Afreximbank to enhance the bankability of export projects.
Additionally, NEXIM is developing tailored financing schemes for the mining sector, including Contract Mining, Equipment Leasing, and Buyers’ Credit/ECA Financing, aimed at unlocking export potential and boosting foreign exchange earnings.
With its renewed drive, NEXIM Bank remains committed to building local processing capacity, advancing Nigeria’s competitiveness in global trade, and strengthening non-oil export revenues by moving up the commodity value chain.
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