…Says NRMIMS Has Potential to Attract $30bn in Investments in 10 Years
The Federal Government has launched the Nigeria Raw Materials Management Information System (NRMIMS), a groundbreaking initiative by the Raw Materials Research and Development Council (RMRDC).
The platform is designed to streamline raw materials data management and enhance Nigeria’s industrialisation and economic growth.
Speaking at the unveiling of the NRMIMS and the Raw Materials E-Registration Portal (RMe-regP) at the RMRDC headquarters in Abuja, the Minister of Innovation, Science and Technology, Chief Uche Nnaji, emphasized the system’s potential to boost local production and attract $30 billion in investments over the next decade.
“The NRMIMS 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. It will also attract investors and strengthen research and development, helping scientists and industrialists explore new product innovations and optimise material use,” Nnaji stated.
The minister further explained that policymakers will now have access to empirical data, enabling them to develop targeted policies that promote resource efficiency and sustainable extraction.
“If properly aligned with national industrial policies, this initiative could increase semi-processed mineral exports to $9 billion by 2030. With accurate data, the agriculture, mining and manufacturing sectors can maximise 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 launch of the NRMIMS and RMe-regP marks a significant step towards transparency, efficiency, and resource-driven industrial growth. The digital tool is now accessible to manufacturers, researchers, policymakers and investors, providing critical data to drive national industrialisation and economic transformation.
Speaking at the event, the Minister of State for Industry, Trade and Investment, Senator John Enoh underscored the importance of harnessing Nigeria’s vast raw materials for economic growth.
“Nigeria is blessed with every raw material imaginable. Our challenge, however, is that we continue to import up to 70 per cent of the raw materials needed for industrial production,” he lamented.
Enoh pointed out that Nigeria spends approximately $10 billion annually on raw material imports, which significantly drains foreign exchange reserves.
“Our manufacturing sector operates at an average capacity of 55 per cent due to difficulties in accessing raw materials. This underutilisation costs our economy an estimated $25 billion annually. Over 70 per cent of manufacturing inputs are imported, and this is a reality we can no longer afford to ignore,” he stressed.
The minister further noted that the newly launched NRMIMS and RMe-regP portals offer a sustainable pathway to reducing reliance on imports. He, however, emphasised that the success of this initiative depends on widespread adoption by stakeholders.
“Beyond today’s launch, the real impact of these platforms will be felt only if Nigerians actively use them. The portal underscores the government’s vision to develop Nigeria’s economy by maximizing the vast potential of our raw materials base,” he asserted.
In his remarks, the director-general of RMRDC, Prof. Nnanyelugo Ike-Muonso described the NRMIMS as a user-friendly portal developed in collaboration with key stakeholders to manage raw materials data effectively.
He noted that the innovation aims to serve as a critical resource for investors, manufacturers, researchers, and policymakers, offering advanced tools to support research and development.
“We invite all government agencies, research institutions, industries, and development partners to collaborate with RMRDC in strengthening data sharing and integrating the NRMIMS with other critical databases. This will enhance the system’s comprehensiveness, making it a strategic asset for national and continental development,” he said.
Ike-Muonso highlighted the importance of value addition to Nigeria’s raw materials and referenced a proposed legislative bill that seeks to restrict the export of virgin raw materials unless they undergo at least 30 per cent value addition.
“The NRMIMS will play a crucial role in tracking value-added processes, ensuring compliance with this proposed legislation, and providing essential insights to guide policy implementation. This initiative will undoubtedly transform the economic fortunes of our nation,” he added.
The launch of the NRMIMS and RMe-regP portals represents a major milestone in Nigeria’s industrialisation journey. By leveraging digital technology to manage raw materials efficiently, the government aims to: Reduce import dependence and boost local production, attract up to $30 billion in investments over the next decade, strengthen Nigeria’s research and innovation ecosystem, create new job opportunities and improve industrial capacity and enhance foreign exchange savings and economic stability.
With the support of stakeholders, including manufacturers, researchers, policymakers and investors, Nigeria is positioned to maximise its raw materials potential, drive sustainable economic growth, and compete more effectively in the global market.
