Business

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

Published

3 months ago

August 6, 2025

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.

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Business

TAJBank Emerges Nigeria’s Biggest Non-Interest Bank

Published

2 weeks ago

October 23, 2025

The Gleamer

Cyril Ogar

After five years of operations in Nigeria’s rapidly evolving non-interest banking (NIB) space, TAJBank Limited has become the biggest player in the NIB subsector based on its total assets and gross earnings values.

Disclosing this during his paper presentation on the key performance indices in the non-interest banking space over the past few years at a seminar organized by Leaders Corporate Services with the theme “Roles of Non-Interest Banks In SMEs’ Financing” for SME entrepreneurs yesterday in Abuja, an investment expert, Mr. Olabode Akeredolu-Ale, maintained that based on the non-interest banks’ approved financial statements for the half year 2025, TAJBank currently remained the biggest in terms of its total assets.

The expert, a chartered stockbroker, specifically confirmed that his recent investment researches on the NIBs and their financial performances showed that TAJBank, with its total assets rising to N1.017 trillion in half year 2025 up from N953.098 billion as of December 2024, which is about N53 billion higher than the nearest NIB’s assets, now ranked top in the banking subsector.

According to him, TAJBank’s gross earnings for H1 2025 also surged to N53.752 billion from N32.86 billion as of December 2024, representing a 64% growth, and higher than the nearest NIB’s gross earnings in the period under review.

This is even as he disclosed that on the NIBs’ earnings per share during the half year, TAJBank reported N61.36 kobo earnings per share, about 92% higher than the earnings per share of the next NIB during the period.

Akeredolu-Ale, who is also a chartered accountant, clarified: “The figures I am reeling out here on the NIBs are sourced from the banking and capital market regulatory institutions’ platforms, which anyone can access to verify.

“I am part of this event because of my research interest in non-interest banking and how the players in the subsector in Nigeria can help to leverage their competencies in innovation and ethical banking to support our MSMEs.

“Today, the MSMEs cannot access DMBs’ loans due to high lending rates and other inclement macroeconomic factors. This is where I think the NIBs have become very crucial to Nigeria’s economic growth.

“Overall, my findings on the NIBs indicated that they are all trying their best with non-interest loans to support entrepreneurs, particularly the MSMEs owners. I have advised those of them at this seminar to explore the cost-friendly financing options of the NIBs to grow their businesses by opening accounts with the NIBs”, the expert added.

Another speaker at the event, Benjamin Chukwudi, also commended the NIBs for their “catalytic roles in helping SMEs to access interest-free loans and providing them the needed financial management advisory, which have been helping them in sustaining their operations in the face of rising cost of doing business in the country.”

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