The Raw Materials Research and Development Council (RMRDC) has urged stakeholders in the rubber industry to support its efforts to review the Act that established the Council.
Its Director-General, Prof. Nnayelugo Ike-Muonso, made the call at a one-day investment forum focused on developing and rehabilitating the rubber value chain in Owerri.
Represented by the Director, State Industrial Extension Services at RMRDC headquarters, Abuja, Mrs. Chima Obi, the DG said the Council is pushing for an amendment to the RMRDC Act 2022 to prevent the exportation of raw materials in their unprocessed form in Nigeria, promoting value addition and local industrial growth instead.
He said overwhelming support was given to the Bill by stakeholders in Abuja on March 5, 2024, during a public hearing organised by the Senate Committee on Science and Technology.
He added that the consideration and passage of the bill will stop the exportation of wealth and jobs to foreign countries by Nigeria through the processing of raw materials before their exportation.
This, he said, will promote the development of higher-value rubber products in Imo and Nigeria generally.
“Value addition plays a crucial role in fostering economic development, enhancing business growth, and ensuring consumer satisfaction.
“Through transforming raw materials into higher-value products, industries can increase profitability, create employment opportunities, and promote sustainable development,” he said.
Speaking on the theme: “Rebooting Rubber- Transforming Imo’s Agricultural Industrial Future”, the Deputy Vice President, National Association of Small-Scale Industrialists (NASSI) Emenike Onu, described the proposed amendment as one of the most significant steps towards achieving greater economic growth.
He called for more legislative initiatives that discourage the export of Nigeria’s raw materials in their unprocessed form.
Imo State Commissioner for Agriculture and Food Security, Cosmos Maduba, added that rubber plantations serve as a vital source of livelihood for millions of small-scale farmers and large-scale producers globally.
He noted that rubber plantations offer employment, support local economies, and make significant contributions to the national GDP in several rubber-producing countries producers worldwide.
