The necessity of value addition to raw materials and commodity products before exporting through domestic processing is gaining attention as Nigeria’s pathway to industrialisation and economic prosperity, writes Dike Onwuamaeze
The Director General of Raw Material Research and Development Council (RMRDC), Professor Nnanyelugo Ike-Muonso, was on his evangelistic garb when he delivered the “Bullion Lecture 2026.” Ike-Muonso’s topic was, “From Resources to Prosperity: How Raw Materials Development, Value Addition and Innovation Can Catalyse Nigeria’s Industrial Renaissance.” His message, which was direct and simple, is that Nigeria must embrace resource based industrialisation (RBI) and should transition from a ‘low value-added trap’ to adding value to its raw materials through processing for industrial manufacturing and export.
He gave the four steps in value addition ladder as raw export (low value), semi-processing, finished goods and lastly branding and innovation, which guarantees the highest value.
According to him, this is a sure ticket for prosperity that every Nigerian has been yearning for. “Prosperity is the endgame and everything we fight for is for prosperity,” he said.
He said that Nigeria is losing much revenue by exporting commodities in their raw states. For examples, export of cashew nuts in their raw form would attract $1,250 per tonne whereas the export value of semi-processed nuts is $7,800 per tonne.
