The Senate says it will pass the 30% value addition bill this week.
“No raw material… shall be exported without undergoing a minimum of 30% local value addition,” Akpabio stated.
GUARDIAN NG
The Senate has pledged to pass the Raw Materials Research and Development Council Amendment Bill this week. The bill mandates a minimum of 30% value addition before any raw material can be exported from Nigeria.
Senate President Godswill Akpabio, represented by Senator Aminu Abbas, made this known at the Africa Raw Materials Summit in Abuja on Tuesday.
“No raw material of Nigerian origin shall be exported without undergoing a minimum of 30% local value addition,” he said.
He described the bill as a “moral compass” and a game-changer for industrial development and job creation.
Akpabio added:
“This legislation is not intended to stifle trade; rather, it is designed to ignite domestic enterprise, create jobs, attract capital, and build resilient value chains.”
Minister of Science and Technology, Chief Uche Nnaji, said:
“Value addition is not optional—it is essential… Africa will no longer export its future in raw form.”
RMRDC DG, Prof. Ike-Muonso, said the bill will keep Africa’s wealth within the continent.