From Charity Nwakaudu, Abuja
The Minister of Innovation, Science and Technology Chief Uche Nnaji says the Nigeria Raw Materials Management Information System (RMMIS) and Development Council (RMRDC) will attract $30 billion in investments over the next decade.
Chief Nnaji made this known in Abuja while unveiling the data application, said the system will empower industries, reduce unemployment, and create opportunities across various value chains
The minister added that the initiative can increase semi-processed mineral exports to $9 billion by 2030 and strengthen research and development in the country, if properly aligned with national industrial policies
“It will also Attract investors, potentially bringing in $30 billion in investments over the next decade through efficient resource management; and finally, it will Strengthen research and development, helping scientists and industrialists explore new product innovations and optimize material use”
“The RMMIS is a national digital repository of real-time, accurate, and accessible data on Nigeria’s raw materials. This platform will Empower manufacturers with reliable data for local sourcing, reducing import reliance and boosting domestic production” Nnaji explained.
He further added that with accurate data, the agriculture, mining, and manufacturing sectors can maximize raw material use, fostering job creation and boosting investments by $20 billion in the next decade.
“This will conserve foreign exchange reserves, potentially saving $10 billion annually while strengthening the naira” he added
The minister explained that successful implementation of RMMIS requires collective effort urging government agencies, researchers, private sector players, and development partners to actively engage, contribute data, and utilize insights to maximize the system’s impact.
In his presentation, the key note speaker and minister of trade and investment, Senator John Owan Enoh
said that data is critical for Nigeria’s economic development.
He added that there is nothing that attracts investors like adequate data, stressing that the raw materials research and development council will continue to fuel industrialisation in the country and beyond with adequate data of raw materials.
Sen. Enoh therefore pledged the commitment of the trade and investment industry in the achievement of the set goal.
On his part, the Director General of the Raw Materials Research and Development Council, RMRDC, Professor Nnanyelugo Martin Ike-Munonso said the Nigeria Raw Materials Management Information System (RMMIS) is the first of its kind in the history RMRDC subsector.
He said it is a robust technology driven decision platform designed to enhance data driven decision making, facilitate research and development in the country.
The DG added that it covers all critical and strategic raw materials comprising agricultural, solid minerals.
“It also contains both technical and investment information and covers more than 17,000 data points based on raw material occurring across every party of the country” he added
