Expert Blames Nigeria’s Lack of Economic Prosperity on Ineffective Utilisation of Raw Materials
Oghenevwede Ohwovoriole in Abuja
The Director General, Raw Materials Research and Development Council (RMRDC), Prof. Martin Ike-Muonso has blamed Nigeria’s ineffective utilisation of her raw materials for the nation’s lack of economic prosperity.
Ike-Muonso stated this while delivering a public lecture at the Enugu State University of Science and Technology (ESUT), according to a press release by the RMRDC Director, Mr. Chuks Ngaha.
Speaking at the maiden public lecture themed “Raw Materials Education and Sustainable Development in Contemporary Nigeria,”
Ike-Muonso warned that recession is eminent if Nigeria is unable to effectively utilise and add value to its abundant raw materials before export.
He underscored the critical role raw materials play in national development and sustainable prosperity, identifying several reasons why raw materials are critical to development, including their role as fundamental input in production processes, their impact on the quality of final products, and their potential to create new markets and improve trade balances.
“Africa’s underdevelopment is tied to the non-processing of its raw materials on its soil,” he said, highlighting the historical factors that have contributed to the continent’s underdevelopment, including the transatlantic slave trade, colonialisation, and the exploitation of raw materials.
To achieve prosperity, Ike-Muonso advocated for the development of raw materials into useful industrial input, stressing that “research and development drive innovation and industrialisation, leading to economic growth and prosperity.”
He also emphasised the importance of education on raw materials, citing its potential to promote value addition, reduce dependence on imports, and foster stability and supply chain management.
“Raw materials education is crucial for sustainable development and economic diversification in Nigeria,” Ike-Muonso said, calling for its integration into national curricula and strengthening institutions like the RMRDC.
He noted that manufacturers should support raw materials education to ensure long-term resource availability, enhance supply chain resilience, drive innovation and efficiency, strengthen corporate social responsibility, and support circular economy principles.
“As President Tinubu said, ‘Africa’s natural resources are shaping the future,’ but we must add value to these resources to reap the benefits,” he emphasised
The Vice Chancellor of ESUT, Prof Aloysius Michael Okolie in his address stated that though the nation is greatly blessed with natural resources, the challenge is harnessing these resources for economic development.
Okolie, who was represented by Prof. Nnenna Nwobodo-Nzeike stressed the need for stakeholders to come together– the researchers, academia, industrialists and government, to build a vibrant and industrial competitive environment for sustainable national growth.
The VC stated that ESUT’s collaboration with RMRDC at this time was necessary to change the narrative, adding that the university has the capacity for effective research in science and technology development.
February 17, 2025 at 03:08AM
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Ayo Yusuf