$582bn resources: RMRDC pushes 30% value addition law

Set to host 2026 African raw minerals summit in Abuja
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Nigeria’s over $582 billion worth of natural resources could become a major engine of industrialisation and job creation if the proposed 30 per cent Raw Materials Value Addition Bill is signed into law, the Raw Materials Research and Development Council (RMRDC) has said.
The Director-General of the RMRDC, Prof Nnanyelugo Ike-Muonso, disclosed this on Tuesday in Abuja at a press conference ahead of the second edition of the Africa Raw Materials Summit (ARMS) 2026, scheduled for 19 and 20 October.
Ike-Muonso said Nigeria’s soil alone contains about $582.4 bil...