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RMAFC Earns Praise from FG for Resourcefulness

Published

2 years ago

April 29, 2025

…As Commission poised to review Revenue Allocation Formula and remuneration packages of political and public office holders

Joel Ajayi

The Federal Government has commended the Chairman of the Revenue Mobilisation Allocation and Fiscal Commission (RMAFC), Dr. Mohammed Bello Shehu, OFR, for his proactive leadership and strategic initiatives aimed at strengthening Nigeria’s fiscal framework.

Speaking at the opening ceremony of the 2025 retreat for newly inaugurated Members of the Commission held in Uyo Awka Ibom State on Monday 28th April 2025 , the Vice President of the Federal Republic of Nigeria, His Excellency Senator Kashim Shettima, GCON, represented by Ibrahim Natagwandu, Technical Adviser to the Vice President on Public Debt and Revenue Mobilisation, lauded the Chairman for his efforts in engaging relevant authorities to enhance the capacity of the Commission to implement it’s mandate.

The vice President who also praised the Commission for organising the retreat said,”I commend the leadership of the Commission for initiating this engagement, which is timely, strategic, and in alignment with our administration’s vision for fiscal prudence, equity, and sustainable development. Let me also acknowledge the commendable efforts of the Chairman of the RMAFC, who has been actively pursuing improved funding to strengthen operational capacity, enhance data-driven decision-making, and ensure the effective discharge of its constitutional responsibilities.”

In his goodwill message, the Executive Governor of Akwa Ibom State, His Excellency Pastor Umo Eno Bassey, warmly welcomed participants to the State and praised Dr. Shehu for his visionary leadership. Governor Bassey highlighted the importance of the Commission’s work in promoting inter-governmental collaboration and described the decision to host the retreat in Akwa Ibom as a testament to the State’s commitment to national development and fiscal innovation. He assured the Commission of Akwa Ibom’s continued support in all efforts to deepen fiscal federalism and strengthen economic management across the country.

While delivering his goodwill messages, the Chairman of the Nigeria Governors’ Forum and Executive Governor of Kwara State, His Excellency Abdulrahman Abdulrazaq, represented by Razaq Fatai, Head of Data and Analytics, underscored the critical role of RMAFC in repositioning Nigeria’s fiscal framework amidst global economic uncertainties. He emphasized the urgent need for a new revenue allocation formula that aligns with current economic realities, stressing that “A balanced and just formula is imperative for the effective delivery of public services and the deepening of democratic dividends.”

In his address, the Attorney General of the Federation and Minister of Justice, Lateef Fagbemi, SAN, represented by Barr. Imarha Ogehnenyerowo Ruben commended the Commission’s commitment to promoting fiscal discipline, equity, and transparency.

He acknowledged the legal and operational challenges faced by the RMAFC . He, therefore, gave the assurance of the Federal Ministry of Justice’s readiness to provide necessary legal guidance and support to enhance the Commission’s effectiveness.

“Where there are constitutional ambiguities or statutory constraints, we stand ready to work with the Commission and the National Assembly to provide the necessary legal reforms,” he stated. Justice Fagbemi urged all participants to deliberate with openness and a strong commitment to national interest.

Speaking at the occasion , the Chairman of the Senate Committee on National Planning and Economic Affairs, Senator Yahaya Abdullahi, praised the Commission for its far-reaching impact across federal, state, and local governments.

He noted that RMAFC’s work goes beyond federal boundaries, directly affecting grassroots development, and called for stronger legislative collaboration to support its initiatives
In his welcome address, RMAFC Chairman, Dr. M. B. Shehu, OFR, expressed his profound appreciation to all dignitaries and participants for honoring the Commission’s invitation to the retreat. He emphasized that the retreat was designed not only to familiarize the new Members with the Commission’s operations but also to prepare them to deliver efficiently on its constitutional mandates.

“We are custodians of the fiscal soul of the Federation,” he noted, “and history beckons on us to leave a legacy of transparency, diligence, and innovation.” Dr. Shehu reiterated the Commission’s commitment to fast-tracking the review of the revenue allocation formula and the remuneration packages for political and public office holders.

He further stated that the Commission was steadfast in promoting revenue diversification initiatives among the three tiers of government.

“We urge governments at all levels to invest in agriculture, tourism, and solid minerals development to expand their revenue base,” he said. Dr. Shehu assured that the Commission, under his leadership, would continue to support efforts geared towards enhancing non-oil revenue mobilization and fiscal wellbeing in line with the aspirations of President Bola Ahmed Tinubu’s Renewed Hope Agenda.

The Secretary to the Commission, Engr. Joseph Okechukwu Nwaze, who gave the vote of thanks at the end of the opening ceremony, expressed profound appreciation to all dignitaries, resource persons, and participants for gracing the occasion. He especially thanked the Vice President, the Executive Governors, Members of the National Assembly, and other stakeholders for their support.

“Your presence and contributions have greatly enriched our deliberations and reaffirmed the collective commitment to strengthen fiscal governance and intergovernmental collaboration in Nigeria,” Engr. Nwaze said.

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

Published

24 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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