The Centre for the Promotion of Private Enterprise, CPPE, has urged the National Assembly to halt progress on a proposed bill that could significantly alter Nigeria’s export and manufacturing landscape.
In a statement signed by Chief Executive Muda Yusuf, the organisation warned that the Raw Materials Research and Development Council Bill, if passed in its current form, could undermine exporters, limit manufacturers’ flexibility, and stifle industrial growth.
Also Read: AfDB President Urges End to Raw Material Exports to Drive Africa’s Development
The draft legislation seeks to mandate at least 30% local value addition before any primary product can be exported. It also proposes a ban on importing raw materials deemed sufficiently available domestically.
While the CPPE acknowledged the merit in boosting local value chains, it argued that such policies must be grounded in comprehensive data. Yusuf called for a detailed assessment of local raw material capacity before any legislative restrictions are imposed on manufacturers or exporters.
The bill remains under consideration in the National Assembly.
Leave feedback about this
You must be logged in to post a comment.