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From Charity Nwakaudu, Abuja
The Minister of science innovation and technology Chief Uche Nnaji has lamented that Nigeria’s possession of abundant raw materials does not guarantee economic growth and development.
Chief Nnaji stated this a the opening Ceremony of the National Consultative Committee on Competitiveness (NCCC) Technical Workshop/conference for the Implementation of the National Strategy for Competitiveness in Raw Materials and Products Development in Nigeria on Tuesday, in Abuja.
He explained that development of raw materials into high-quality products is a necessity and a strategic imperative for national growth and global competitiveness.
“Nigeria has abundant raw materials, from solids, metals and energy minerals to agro-raw materials. However, the mere possession of these resources does not guarantee economic prosperity” he emphasized
The minister insisted that the country would remain at it present economic state if nothing to add value to local content.
“Developing raw materials into high-quality products is a necessity and a strategic imperative for national growth and global competitiveness.
The National Strategy for Competitiveness in Raw Materials and Products Development in Nigeria, with its Implementation Plan, was developed by the Raw Materials Research and Development Council (RMRDC) under the supervision of innovative Ministry.
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This National Strategy received approval from the Federal Executive Council (FEC) at its meeting on Wednesday, 17th May 2017. It aims is to champion our country’s global competitiveness diversification through investments in innovation and technology, R&D, infrastructure, data development and management, industrialization, competitiveness advocacy, legal and policy frameworks, institutional/organizational development, and human capital development, he added
Speaking on the benefits of strategy, the minister said it includes creating 4.4 million jobs; boosting local content in manufacturing to 50% and 80% in the short and long terms, respectively, increasing global acceptance of Made-in-Nigeria raw materials, products, and services, boosting foreign exchange earnings and reserve.
Others are steady development of demand-driven scientific industrial culture, industry-research strategic alliances with the resultant production of high- quality and competitive raw materials and products, graduation of market- ready students from knowledge centres, and overall diversification of the economy”
The minister stressed that global competitiveness is the life blood of any thriving economy as it underscores the ability to produce goods and services to meet the standards of the international markets while simultaneously strengthening the citizen’s long-term real income.
Nnaji further reiterated that Nigeria’s path to global competitiveness lays in its efforts in leveraging the enormous powers of innovation, science and technology in value-addition and indigenous industrialization.
On his part, Director- General, Raw Materials Research and Development Council (RMRDC), Prof. Nnanyelugo Ike-Muonso, explained that successful implementation will reduce the level of raw materials and products imports into the country.
