RMRDC Moves To Source 50% Local Raw Materials

The Raw Materials Research and Development Council (RMRDC), has said that it intends to achieve 50 per cent local sourcing of raw materials to conserve the nation’s foreign exchange.

The Director-General of RMRDC, Prof. Peter Onwual, stated this an interview in Abuja.

Onwualu said that Nigerian was presently importing about 90 per cent of raw materials that could also be sourced in the country.

He said his agency had worked out a time table that would enable the country achieve the 50 per cent local sourcing of such raw materials within the next five years.

“Now we have a time table and it shows the kind of raw materials we want to take off in the importation list or the ones we want to reduce their importation,’’ Onwualu said.

He explained that if reduction in the importation of raw materials could be achieved, it would have a significant effect on the country’s economy.

The director-general said that if the country’s local raw materials were fully utilised, it would lead to the creation of new industries and job opportunities for Nigerians.

He said that effective utilisation of local raw materials would save foreign exchange, as well as help in diversifying the country’s economy.

Onwualu said that in the past one year, the council had been involved in capacity building on how to process available raw materials in each state of the country federation.

He said that each of the training was aimed at harnessing the potentials of particular raw materials in each state.

Onwualu said that presently the council would want to make a breakthrough in the processing of fruit juice concentrate, adding that a lot of programmes were ongoing to achieve this.

He said once the council improved on the local sourcing of the raw material on fruit juice, it would work on reducing its importation.