By Joel Ajayi

The Federal Government of Nigeria (FG) has announced that the upcoming Africa Raw Materials Summit (ARMS 2026) will serve as a premier platform to showcase and maximize the value of Africa’s vast natural endowments, strengthen Africa’s Science, Technology, and Innovation ecosystem.

Addressing newsmen in Abuja on Thursday ahead of the summit, the Minister of Innovation, Science and Technology, Dr Kingsley Udeh, said the platform would also be used to showcase Africa’s raw materials potential.

He said that the development of the continent’s raw materials sector was central to Africa’s overall economic transformation.

He emphasised that ARMS 2026 was designed as an indigenous forum for collaboration, coordination, and sharing of ideas across the continent.

“This summit is about identifying shared challenges, agreeing on practical solutions, reviewing progress, measuring impact, and clearly mapping out the gaps we must collectively address,” he said.

He said that Nigeria was actively building strong partnerships across the continent.

“We are networking with other African countries so that successful approaches can be replicated, and emerging technologies can be adapted within our African raw materials ecosystem for the benefit of all.

“One key focus of Nigeria’s presentation will be showcasing the country’s growing achievements in the sector,” he said.

The minister stressed the Federal Government’s clear vision was that the country would no longer export its resources merely as a raw commodity.

“We are determined to process them right here and export finished products instead,” he said.

He highlighted the urgent need to bridge the gap between research and the marketplace.

“ We must ensure that our research outputs are commercialised; the great ideas from in our laboratories should become products that serve our people and our industries,” he said.

The Minister said Raw Materials Research and Development Council, RMRDC, has projected that the proposed 30 per cent mandatory value addition to Nigerian raw materials before export could generate more than 1.2 million skilled jobs within five years.

The minister stressed that the proposed measure would also promote import substitution, conserve foreign exchange and strengthen local manufacturing.

The minister also said that the proposed bill mandating a minimum of 30 percent value addition to all exportable raw materials will boost Nigeria’s industrialization drive and economic growth stressing that the bill, initiated by the Council shortly after he assumed office, is currently receiving attention from the National Assembly, the Federal Ministry of Justice and the Presidency.

He expressed confidence that once the bill is accented to by the President after the rigorous work by the lawmakers, Nigeria’s industrialization will be accelerated in line with the Renewed Hope Agenda of President Bola Tinubu in his quest to improve the Nigerian economy.

“Eventually, it will become law, meaning that raw materials cannot be exported from Nigeria without value being added to them. This will lay the foundation for industrialisation because local processing will be significantly expanded,” he said.

He further asserted that the legislation would require exporters to add at least 30 percent value to raw materials before export.

This proposal aligns with the President’s position against exporting raw resources only to import finished products at much higher costs.”

According to him, the legislation would also attract foreign investment into local processing industries, as investors who currently process Nigerian raw materials abroad would be encouraged to establish processing facilities within the country.

He added that this value addition will facilitate technology transfer, strengthen local manufacturing, promote import substitution and create employment opportunities.

“Investors will be encouraged to process our raw materials locally. Scientists and researchers will also come to Nigeria to identify additional raw materials and develop new processing technologies.

“The bill also proposes restrictions on the importation of raw materials that are readily available in Nigeria in sufficient quantity and quality. This will guarantee adequate supplies for local industries, improve access to financing for industrial activities, create jobs and positively impact the value of the naira through improved foreign exchange earnings.”

The Director-General, Raw Materials Research and Development Council (RMRDC), Prof. Nnanyelugo Ike- Muonso, said the summit would highlight Nigeria’s growing role as a hub for innovation-driven resource utilisation.

He said ARMS 2026 was meant to foster partnerships among governments, researchers, industries, and investors.

He said the ultimate ambition was to grow local processing capacity, strengthen supply chains and ensure that African countries got value from their natural endowments.

He further said that this objective aligned with the Federal Government’s broader agenda of economic diversification, self-reliance, and sustainable development.

 Ike-Muonso noted that the proposed Raw Materials 30% Mandatory Value Addition Bill seeks to establish a statutory minimum of 30 per cent domestic value addition to Nigerian raw materials before export. He said the bill was awaiting presidential assent.

According to RMRDC, the projected job creation is one of the expected benefits of implementing the proposed legislation, which forms part of efforts to shift Nigeria from exporting low-value primary commodities to higher-value industrial production.

The council also urged Nigeria to process its over $582.4 billion worth of documented non-renewable natural resources locally to boost manufacturing and create additional economic opportunities.

Ike-Muonso said Africa must move away from the “pit-to-port” model, in which raw materials are exported while finished products are imported at higher costs.

“What is extracted from African soil must increasingly be transformed on African soil,” he said.

He said ARMS 2026 would attract more than 1,800 delegates from all 54 African countries, alongside investors, manufacturers, technology companies and other industrial stakeholders.

The summit will focus on logistics and infrastructure, policy and value addition, circular economy and waste industrialisation, AfCFTA regional value chains, and technology commercialisation and capital linkage.

“Nigeria alone had more than $582.4 billion in documented non-renewable natural resources, while other African countries also possessed substantial deposits of critical minerals, agricultural commodities and industrial feedstock.

“Local processing would create jobs, strengthen manufacturing and reduce Africa’s vulnerability to fluctuations in international commodity prices,” he stated.