The Federal Executive has introduced the Nigeria Uncooked Fabrics Control Data Machine, a virtual platform designed to fortify industrialisation, draw in funding, and optimise the rustic’s uncooked subject matter assets.
The initiative, spearheaded via the Uncooked Fabrics Analysis and Construction Council, is anticipated to deliver in $30bn in investments over the after decade via environment friendly useful resource control.
Talking on the foundation in Abuja on Tuesday, the Minister of Innovation, Science, and Era, Uche Nnaji, emphasized the potential for the RMMIS to grow to be Nigeria’s financial park.
“The RMMIS 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, potentially bringing in $30bn in investments over the next decade through efficient resource management,” Nnaji said.
He highlighted how the insufficiency of complete knowledge on uncooked subject matter reserves, attribute, and places has hindered commercial expansion, eminent to top import dependence and lowered investor self assurance.
“Manufacturers struggle to source reliable local inputs, while investors hesitate due to limited resource visibility. Researchers and innovators also face challenges in developing new products without comprehensive data,” the minister famous.
With the RMMIS, he added, policymakers would have get right of entry to to empirical knowledge for centered insurance policies, which might building up semi-processed mineral exports to $9bn via 2030.
Moreover, the agriculture, mining, and production sectors may just maximise uncooked subject matter significance, fostering activity starting and boosting investments via $20bn within the after decade.
The initiative could also be anticipated to keep foreign currency echange reserves, probably preserve $10 bn once a year week nutritious the naira.
The Minister of Order for Trade, Business, and Funding, Senator John Enoh, stressed out the important position of knowledge in monetary expansion, drawing parallels with eminent international corporations.
“The difference between countries and companies that have data and those that don’t is massive. This initiative marks a significant milestone in our journey towards self-reliance and sustainable economic development,” he mentioned.
Enoh stated the economic demanding situations Nigeria faces because of insufficient knowledge and record-keeping.
He said, “We will have to recognise that our commercial production sector operates at a mean of about 5 consistent with cent capability because of demanding situations in sourcing uncooked fabrics.
This underutilisation cripples our economic system and denies nation activity alternatives,” he defined.
He additionally identified that over 70 consistent with cent of Nigeria’s agricultural inputs are imported, a status the fresh device seeks to handle.
The minister additional underscored the use of utilising the platform successfully.
“Beyond launching the system, it is crucial that we use it. The raw materials management information system underscores the government’s vision of transitioning from raw material exports to local value addition. This platform will unlock opportunities for industrial expansion, job creation, and technological advancement,” he mentioned.
Enoh additionally cited international best possible practices, noting that the Ecu Union has applied indistinguishable methods to combine knowledge, foster innovation, and draw in funding.
He steered stakeholders to collaborate in making sure the good fortune of the initiative. “No country has achieved sustainable development without industrialisation. We must be deliberate in driving this transformation,” he said.
Talking on the foundation, Director-Normal and Eminent Govt Officer of the Uncooked Fabrics Analysis and Construction Council, Prof. Nnanyelugo Ike-Munonso, described the RMMIS as a “groundbreaking initiative” that may handover real-time knowledge for buyers, producers, and policymakers.
“The RMMIS is the first of its kind in Nigeria’s manufacturing sector. It will enhance data-driven decision-making, optimise resource allocation, and drive industry development,” he said.
The device, advanced with aid from key stakeholders and aligned with the RMRDC’s 10-year roadmap, covers over 17,000 knowledge issues on uncooked fabrics throughout Nigeria.
It’s anticipated to fortify analysis and construction, give a boost to provide chain making plans, and draw in funding into the field.
“The success of this initiative depends on active collaboration. We invite government agencies, industries, and development partners to integrate this system with other critical databases to unlock Nigeria’s full potential,” Ike-Munonso added.
The minister referred to as for lively participation from govt businesses, researchers, personal sector avid gamers, and construction companions.
“Today, we do not just launch a digital tool; we usher in an era of transparency, efficiency, and resource-driven industrial growth. This is President Bola Ahmed Tinubu’s Renewed Hope Agenda in action, bringing Nigeria one step closer to realising its full potential,” he mentioned.