A proposed amendment bill seeking processing of raw materials before exporting it got overwhelming support by stakeholders in the raw materials industry at a public hearing organized by the Senate Committee on Science and Technology in Abuja on Wednesday.
The public hearing by the Senate Committee, chaired by Senator Peter Onyekachi Nwebonyi was seeking an amendment to the Raw Materials Research and Development Council, RMRDC, Act 2022 to process and add value chain to raw materials in the country.
The Bill was sponsored by Senator Peter Nwebonyi, representing Ebonyi North Central Senatorial District in the 10th National Assembly.
In their separate presentations, stakeholders like the Ministry of Solid Minerals, Standard Organization of Nigeria, SON, and Manufacturers Association of Nigeria (MAN) threw their weights behind expeditious consideration and passage of the bill.
They described the proposed amendment as a catalyst to harnessing economic potentials which would undoubtedly turnaround the fortunes of the country, emphasizing that they have yearned for the amendment to the Act for a long time.
According to the representative of the Manufacturers Association of Nigeria, processing raw materials locally before exporting them will create jobs and prevent exportation of wealth, urging the two Chambers of the National Assembly to expedite action in the amendment.
Meanwhile, the Director General of Raw Materials Research and Development Council, Professor Nnanyelugo Ike Muonso said final consideration and passage of the bill will stop exportation of wealth and jobs to foreign countries by Nigeria through processing of raw materials before exporting them.
He said: “Today is my happiest day with the 100% support the amendment bill got from the various stakeholders.”
In his closing remarks, the Chairman of the Committee, Senator Iya Abbas, said since there were no opposing views to the proposed amendment bill, the committee will accordingly submit its report to the Senate soonest for final consideration and passage.