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RMAFC Concludes Strategic Retreat In Uyo

Published

2 years ago

May 1, 2025

…Charts Path for Fiscal Reform

Joel Ajayi

The Revenue Mobilisation Allocation and Fiscal Commission (RMAFC) has concluded a high-level, three-day retreat for its members and senior management staff at the Ibom Hotel & Golf Resort, Uyo, Akwa Ibom State.

The retreat, which was held from April 28th to 30th, 2025, was themed “Understanding the Role of RMAFC and Other Stakeholders/Agencies in Nation Building”_

The Chairman of the Commission Dr. Muhammed Bello Shehu OFR disclosed that the retreat was designed to enlighten the newly inaugurated members of the Commission and strengthen the operational focus of the organisation to align with the national economic realities so as to accelerate the actualization of the renewed hope agenda of President Bola Ahmed Tinubu.

In a communique issued at the end of the retreat, which was presented by the Federal Commissioner representing Kwara State and Chairman, Public Affairs and Communications Committee of the Commission, Hon. Ismail Muhammed Agaka, the Commission emphasized the urgent need to review the revenue allocation formula to reflect changing realities as enshrined in the 1999 Constitution, considering the fact that the current formula has been in existence for about 16 years.

The communique also called for constitutional amendment to allow the inclusion of the Local Government Chairmen and Councilors among the beneficiaries of the remuneration package listed in the 1999 Constitution as ammended.

Its stated that Section 162 (6) of the constitution should be amended to ensure that the allocations of the Local Governments are paid directly to them from the Federation Account in line with the Supreme Court ruling delivered on July 11, 2024 on Local Government financial autonomy.

The communique called for the amendment of Section 162(2) to establish a clear timeline for presidential submission of RMAFC proposals to the National Assembly.

Other major highlights of the communique are:
Establishment of a National Revenue Dashboard for digital, real-time revenue tracking; The Commission should advocate the ammendment of the relevant sections of the Petroleum Industry Act, PIA to expand the composition of the Board of the NNPC Limited to include representatives of states, local governments, and the Central Bank of Nigeria;

Creation of a distinct Office of the Accountan General of the Federation, separate from that of the Federal Government.

The commission in the communique said it would intensify its constitutional mandate of monitoring revenue accruals to ensure that all revenue due to the Federation Account were remitted accurately and promptly by the Revenue Generating Agencies.

The communique also stated that according to the spirit and letter of the Constitution, the advice of the RMAFC on the Remuneration package of Political, Public and Judicial office holders is binding on the Federal and State governments.

“The retreat marked a significant milestone in repositioning the Commission to respond more effectively to Nigeria’s evolving fiscal realities,” Hon. Agaka concluded.

The retreat was attended by top federal and state officials, such as the Vice President, Senator Kashim Shettima, GCON, represented by Dr. Ibrahim Muhammad Natagwandu, and the Executive Governor of Akwa Ibom State, His Excellency Pastor Umo Bassey Eno, PhD, who delivered a goodwill message, the Chairman of the Nigerian Governors Forum, His Excellency Abdulrahman Abdulrazaq, Chairman Senate Committee on National Planning and Economic Affairs Senator Yahaya Abdullahi and other distinguished personalities.

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Strategic Partnerships, Diaspora Investment and Improved Workforce Critical to Industrialization-DG RMRDC

Published

17 hours ago

November 12, 2026

The Gleamer

By: Stella Azi and Adaora Adibe

The Director-General/Chief Executive Officer of the Raw Materials Research and Development Council (RMRDC), Prof. Nnanyelugo Ike-Muonso, has called for a strategic shift from the exportation of raw commodities to domestic processing, manufacturing and value addition, declaring that Nigeria possesses enormous untapped raw material resources capable of driving industrialisation, creating jobs and strengthening the country’s economic competitiveness.

Prof. Ike-Muonso made this submission in a lecture titled Unlocking Nigeria’s Raw Material Value Chain for Industrialization, Manufacturing and Competitiveness, where he presented an extensive assessment of Nigeria’s resource endowments, industrial challenges and emerging investment opportunities across agricultural commodities, solid minerals and waste-based raw materials.

The lecture highlighted a combined US$2.65 trillion global market opportunity across 30 major raw material value chains, comprising 12 agricultural value chains valued at US$932 billion, 11 mineral value chains worth US$1.352 trillion and seven circular-economy value chains estimated at US$366 billion.

According to the RMRDC Boss, Nigeria must move beyond the traditional approach of extracting and exporting raw materials to building competitive domestic industries that transform these resources into intermediate products, industrial inputs and finished goods for local consumption and international markets.

He observed that the country’s manufacturing sector has struggled to sustain its 2014 peak, with its contribution to real Gross Domestic Product declining from 9.64 per cent in 2014 to 8.05 per cent in 2025, representing a 16.5 per cent decline. He also drew attention to the increasing cost of raw material imports, which rose to US$20.5 billion in 2025, approximately six times the 2020 level.

He explained that the growing dependence on imported industrial inputs exposes Nigerian manufacturers to foreign exchange volatility, increases production costs and weakens the competitiveness of locally manufactured products.

Prof. ke-Muonso stressed that the solution lies in developing domestic raw material value chains through deliberate investment in processing facilities, research and development, technology, infrastructure and stronger linkages between producers, processors and manufacturers.

He identified agriculture, solid minerals and industrial waste as three major resource platforms for Nigeria’s industrial transformation, stating the country’s significant production capacity and the enormous opportunities available for downstream processing.

Ike-Muonso noted that Nigeria produces over 63 million metric tonnes of cassava annually, making it the world’s largest producer, while also maintaining strong positions in cocoa, cashew, sesame, palm oil and cotton. However, more than 80 per cent of agricultural output leaves farms without adequate processing, resulting in the loss of significant economic value and industrial opportunities.

In the solid minerals sector, he identified more than 44 commercially viable minerals across over 500 locations, including lithium, gold, barite, bitumen, iron ore and high-grade limestone, describing them as strategic resources capable of supporting steel production, energy storage, electrification and advanced manufacturing.

The DG further drew attention to Nigeria’s industrial and agro-waste resources, noting that the country generates over 32 million tonnes of solid waste annually. He explained that agricultural residues, cassava peels, scrap metals, plastics and electronic waste could serve as important feedstock for bio-fertilisers, industrial chemicals, recycled polymers, energy production and other manufacturing applications.

In the agricultural sector, the DG identified cassava and industrial starch, cotton and natural textiles, natural rubber and elastomers, oil palm and oleochemicals, maize derivatives and cocoa processing as priority areas requiring increased investment.

He explained that processing agricultural commodities into industrial starch, sweeteners, textiles, technical rubber, specialty fats and other intermediate products would enable Nigeria to capture more value from its agricultural resources while reducing dependence on imported industrial inputs.

For the minerals sector, he highlighted crude oil-to-olefins and petrochemicals, lithium and energy storage, iron ore and steel, rare earth elements, bauxite and aluminium, and copper and electrification as strategic investment opportunities.

He particularly emphasised the importance of moving beyond mineral extraction into beneficiation, refining, battery precursors, industrial chemicals, metal fabrication and advanced materials production.

On the circular economy, Prof. Ike-Muonso identified electronic waste recovery, scrap metal recycling, plastic waste processing, agro-waste valorisation and battery recycling as emerging industrial opportunities.

He explained that transforming waste into productive industrial feedstock would not only reduce environmental pollution but also create new manufacturing industries, generate employment and reduce the importation of valuable industrial materials.

He noted that to address the structural challenges confronting raw material-based industrialisation, the DG highlighted the strategic interventions of the RMRDC, particularly the proposed 30% Value Addition Bill and the Nigeria Integrated Information Statistical System for Raw Materials and Products (NISSRAMP).

He described the 30% Value Addition Bill as an important policy instrument designed to encourage domestic processing of raw materials before export, strengthen local manufacturing capacity and guarantee access to essential raw materials for Nigerian industries, and NISSRAMP as a critical data infrastructure that would improve access to verified information on the availability, location and quality of raw materials.

According to him, the combination of appropriate policy instruments and reliable resource data would help de-risk investments, improve transparency and strengthen confidence in Nigeria’s raw material sector.

He emphasised the importance of collaboration among government, academia and industry in developing bankable projects, sharing investment risks and accelerating the establishment of processing and manufacturing facilities.

Professor Ike-Muonso called on Nigerians in the diaspora and other local and international investors to take advantage of the opportunities available in Nigeria’s raw material sector.

He identified industrial processing parks, mineral beneficiation and refining, agro-industrial platforms, circular-material processing, industrial input manufacturing and enabling infrastructure as viable investment platforms.

He noted that diaspora investors could contribute beyond financial capital by bringing technology, international business networks, governance standards, technical expertise and access to global markets.

He maintained that Nigeria’s industrial transformation requires coordinated investment across the entire value chain, from raw material sourcing and aggregation to processing, manufacturing, certification and export development.

Professor Ike-Muonso stressed that the country’s industrial future would depend not merely on the volume of raw materials extracted but on the capacity to transform them into competitive products that meet domestic and international market requirements.

He maintained that developing local value chains would stimulate industrial growth, create employment opportunities, diversify exports, conserve foreign exchange and deepen Nigeria’s technological capabilities.

Through its strategic interventions, the RMRDC is positioning itself as a critical bridge between resource availability, investment opportunities and industrial competitiveness, with the ultimate objective of transforming Nigeria from a predominantly raw material exporting economy into a strong manufacturing and value-adding nation.

Ike-Muonso has demonstrated this since assumption of office as the Director General/ CEO RMRDC in the area of capacity building, improved working conditions, promotion of merit, and maintaining a conducive environment that rewards excellence, innovation and dedication. This is evident in his institution of RMRDC training school, reward for winners of the RMRDC innovation challenge among others.

His commitment has brought recognition both nationally and internationally: Al-Jazirah double honour awards as Public Servant /Government Agency of the year 2024-2025 and the recent election as the Sub-Saharan Africa Regional Representative on the Board of the World Association of Industrial and Technological Research Organisations (WAITRO) is a attestation to his commitment.

Concluding the lecture, the DG charged staff, researchers, manufacturers and investors to see themselves as nation builders in the new era of raw materials-led industrialization.

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