Business
Accelerating Sustainable Manufacturing Through Innovation: MAN–RMRDC EXPO 2025 Leads the Way

In a deliberate effort to foster stronger partnerships required to build innovation and sustainability for economic development, stakeholders from across Nigeria’s industrial ecosystem gathered for the 2025 edition of the Nigeria Manufacturing & Equipment/ Nigerian Raw Materials (NME/NIRAM) Expo 2025 at the Balmoral Federal Palace Hotel, Victoria Island, Lagos.
The event, jointly organised by the Manufacturers Association of Nigeria (MAN) and the Raw Materials Research and Development Council (RMRDC), is being heralded as a national milestone in Nigeria’s industrial journey.
With the theme “Accelerating Sustainable Manufacturing Through Cutting-edge Equipment and Technology Solutions,” the three-day event brought together policymakers, industrialists, researchers, financiers, and global partners to tackle Nigeria’s manufacturing challenges head-on and explore paths to self-reliance through innovation-driven production.
The Honourable Minister of Innovation, Science and Technology, Chief Uche Geoffrey Nnaji, while declaring the Expo open, affirmed that for Nigeria to experience industrial development, innovation and technology must be prioritised.
He commended the Raw Materials Research and Development Council (RMRDC) and the Manufacturers Association of Nigeria (MAN) for organising such a timely event.
Chief Nnaji further stated that the Expo provides a strategic platform for inspiring new innovative ideas that are capable of moving the Nigerian manufacturing ecosystem forward. He emphasised that one of the major planks of President Bola Tinubu’s Renewed Hope Agenda is strengthening the capacity and capabilities of Nigeria’s manufacturing industry to innovate and produce products that would significantly reduce the country’s over-dependence on importation.
Earlier in his welcome address, the Director General of RMRDC, Professor Nnanyelugo Ike-Muonso, described the Expo as more than a periodic gathering, but as a strategic platform where Nigeria’s industrial future is debated, designed, and driven.
Prof. Ike-Muonso highlighted that the expo serves as a hub for technical exchange, policy dialogue, investment matchmaking, and strategic industrial networking, critical components in the drive to reduce import dependency and grow domestic capacity.
Citing concerning figures, he noted that over 70% of Nigeria’s manufacturing inputs are imported, with raw material imports surging to ₦4.53 trillion in just the first nine months of 2024. Despite this, the manufacturing sector contributed only 9.62% to GDP in Q1 2025, a drop from the 9.8% recorded the previous year.
“These numbers expose a structural weakness,” the DG stated. “We export raw materials in crude form, import them back refined, and in the process, export jobs and value.”
He emphasised the urgent need for Nigeria to embrace the Fourth Industrial Revolution, integrating smart technologies, adopting resource-efficient processes, and institutionalising sustainability as a national industrial ethos.
Professor Ike-Muonso pointed to RMRDC’s Research and Demonstration Plant Complex (RDPC) in Abuja as a concrete step towards this vision. The RDPC houses over 50 pilot plants, all locally designed and fabricated, transforming indigenous raw materials like cassava, talc, and shea into high-value industrial products.
Prof. Nnanyelugo reiterated the legislative milestone RMRDC has achieved with the bill, which mandates at least 30% processing or value-addition within Nigeria’s raw materials. From cassava to platinum ore, this marks a turning point from exporting raw jobs to nurturing them in our soil.
“This positive development not only makes the challenge of cutting-edge technology for raw material processing both imperative and urgent but holds the ace for providing global investors with the legislative confidence they require to invest in processing technologies and domestic processing of raw materials,” the DG stated.
Delivering his welcome remarks, the President MAN, Otunba Francis Meshioye reinforced the expo’s importance to Nigeria’s industrial policy. He extended warm acknowledgements to dignitaries and partners, including the Honourable Minister of Innovation, Science and Technology, Chief Uche Geoffrey Nnaji, for paving the way for innovation and technology shift in recent times.
Meshioye underscored the need to embrace cutting-edge technologies such as the Internet of Things (IoT) and Artificial Intelligence (AI) to enhance productivity and efficiency in manufacturing processes.
“We are focused on energy-efficient production, smart factory protocols, closed-loop systems, and advanced recycling,” he said. “These approaches not only reduce waste but add long-term value for stakeholders.”
He added that the 2025 Expo was reengineered to align with President Bola Ahmed Tinubu’s “Nigeria First” policy, a call to deepen local content, promote homegrown solutions, and support domestic industry.
In his remarks, the Director General of the Manufacturers Association of Nigeria (MAN), Mr. Segun Ajayi-Kadir, expressed enthusiasm that the three days of exposition and conversation around value chain optimisation shall deliver on economic self-reliance and enhanced industrialisation. He urged participants to get involved at the expo and showcase innovative products and solutions developed by local manufacturers, as well as connect with potential customers, partners, and investors.
He further applauded their presence, which he said demonstrates a commitment to promoting local content and supporting Nigerian industries.
Mr. Kadir stated,” This EXPO also affords us an opportunity to examine the state of the manufacturing sector and to co-create solutions to ameliorate identified challenges.
This is a marketplace of ideas, and we look forward to harvesting innovative solutions to grow the manufacturing sector and develop the Nigerian economy.”
As discussions, exhibitions, and business-to-business engagements unfold throughout the event, both leaders expressed optimism that the NME/NIRAM EXPO 2025 will spark actionable outcomes that reposition Nigeria as a truly industrialised nation.
The NME/NIRAM EXPO 2025 continues through the day, featuring exhibitions, policy panels, innovation showcases, and technical workshops all centered on building a resilient, sustainable, and self-reliant innovative Nigerian manufacturing sector.
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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