Business
Intermediate Raw Materials Dev’ll Save Nigeria N2trn – RMRDC
The development of Nigeria’s intermediate raw materials will save it over N2 trillion in foreign exchange in the next 25 years, the Raw Materials Research and Development Council (RMRDC), has said.
The Director-General of the council, Prof. Peter Onwualu, made this known at a briefing with newsmen on Thursday in Abuja.
He said that since the council’s inception 25 years ago, it had consistently pursued a central mandate aimed at promoting the exploitation, development and utilisation of local raw materials in the country.
“Little wonder that after 25 years experience in value addition to local raw materials; the council had emerged as Nigeria’s focal point for the development of Nigeria’s vast industrial raw materials.
“Our target is to increase the percentage of local content in industrial raw materials utilisation in Nigeria from the current 25 per cent to 60 per cent in the next 25 years.
“This, by our estimation can save Nigeria over N2 trillion in foreign exchange for importation of intermediate raw materials, process equipment and impact skills,’’ Onwualu said.
According to the him, Nigeria is expending foreign exchange to import raw materials and products which can be sourced from the country, which he says is due to lack of awareness.
Onwualu added that the country was processing about 25 per cent of its local cocoa production prior to council’s existence.
He said that the figure changed to 75 per cent with council’s intervention over the years, saying that additional 2,000 jobs were created through its effort.
Onwualu said that over 100 research projects had been funded by the council, and about 50 per cent of research results had been commercialised, while 30 per cent were at various stages of commercialisation through pilot plants and joint venture with SMEs.
He expressed the council’s belief on the development of the nation’s natural raw materials and investment in people, saying that both were possible and sustainable.
Onwualu said that to ensure that both remained a socio-economic vehicle for sustainable national development and growth, the council had embarked on intensive investment promotion campaigns across the country.
He said that the next 25 years, over 2,000,000 jobs would be created in the area of raw materials production, processing, distribution and final processing of goods and services.
“We hope to achieve these by consolidating on the council’s information generation, research grants scheme, commercialisation of research results and promotion of investment in resource based industries,’’ he said.
Onwualu said that the council would work with other relevant organisations to see to the emergence of about 5,000 competitive SMEs.
He said that this would be done by using research results and technologies developed by the council research institution, universities and other higher institutions.
Business
Kenyan Runners Dominate Berlin Marathons
Kenya made it a clean sweep at the Berlin Marathon with Sabastian Sawe winning the men’s race and Rosemary Wanjiru triumphing in the women’s.
Sawe finished in two hours, two minutes and 16 seconds to make it three wins in his first three marathons.
The 30-year-old, who was victorious at this year’s London Marathon, set a sizzling pace as he left the field behind and ran much of the race surrounded only by his pacesetters.
Japan’s Akasaki Akira came second after a powerful latter half of the race, finishing almost four minutes behind Sawe, while Ethiopia’s Chimdessa Debele followed in third.
“I did my best and I am happy for this performance,” said Sawe.
“I am so happy for this year. I felt well but you cannot change the weather. Next year will be better.”
Sawe had Kelvin Kiptum’s 2023 world record of 2:00:35 in his sights when he reached halfway in 1:00:12, but faded towards the end.
In the women’s race, Wanjiru sped away from the lead pack after 25 kilometers before finishing in 2:21:05.
Ethiopia’s Dera Dida followed three seconds behind Wanjiru, with Azmera Gebru, also of Ethiopia, coming third in 2:21:29.
Wanjiru’s time was 12 minutes slower than compatriot Ruth Chepng’etich’s world record of 2:09:56, which she set in Chicago in 2024.
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