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Izy OKU
1 month ago
Overview
Nigeria’s local processing bill: Economic boost or burden?
Support is growing for the Raw Material Research and Development Council (RMRDC) Bill, which is currently before the National Assembly. Stakeholders in Nigeria’s local manufacturing sector describe the proposed legislation as a significant step toward strengthening domestic production.
At a public hearing organised by the Senate Committee on Science and Technology yesterday in Abuja, experts and industry leaders gave positive feedback on the proposed legislation, which seeks to mandate 30 percent local processing of raw materials before export.
The bill, sponsored by Senator Nwebonyi Onyeka Peter (Ebonyi North Senatorial District), scaled the second reading in the Senate last December. It aims to amend the RMRDC Act 2022 to prioritise domestic production and local manufacturing.
https://leadership.ng/stakeholders-back-bill-for-30-local-processing-of-raw-materials-before-export/
