By Charles Maduka
Senate President Godswill Akpabio says the Nigerian Senate is set to pass the 30% Minimum Value-Addition Bill within the week to promote industrialisation and reduce raw material exports. The bill mandates that no raw material of Nigerian origin will be exported without undergoing at least 30 percent local value addition through processing, refining, packaging, or industrial transformation.
Speaking at the Africa Raw Materials Summit in Abuja, Akpabio, represented by Senator Aminu Abbas, called the legislation “groundbreaking” and aimed at creating jobs, attracting investment, and building strong industrial value chains. He dismissed concerns that the bill would hurt exporters, describing it instead as a tool to ignite domestic enterprise and economic growth.
The Centre for the Promotion of Private Enterprise had earlier raised concerns over possible adverse effects on businesses, but Akpabio insisted that the bill supports trade rather than stifles it. He stressed that the era of exporting raw materials while importing finished goods must end, citing the need for regional integration and economic sovereignty.
Industry stakeholders also voiced support. Minister of State for Industry, John Enoh, urged collaboration to ensure the bill’s speedy passage, saying Nigeria must shift from exporting unprocessed resources to manufacturing finished goods. He also advocated greater support for SMEs and youth skills development.
Minister of Innovation, Uche Nnaji, called for Africa to end its extractive dependence and focus on value-driven industrialisation. He said value addition is no longer aspirational but imperative for poverty reduction, youth empowerment, and global competitiveness.
The bill aligns with broader efforts under the African Continental Free Trade Area and is expected to attract funding from African pension funds, sovereign wealth funds, and development banks toward industrial infrastructure and green energy projects.
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