Minister explains FG’s strategy for saving N3.6tn from raw materials

The Federal government has explained how the country would save N3.6 trillion in the next five years from raw materials development.

Minister of Science and Technology, Ogbonnaya Onu, told The Guardian in an interview that the planned economic achievement would accrue from a new government policy that would stop importation of raw materials that could be sourced within the country.

He explained that the policy tagged “National Strategy For Competitiveness In Raw Materials Development” if efficiently implemented, could help to generate quality jobs too. The policy, he said, would specifically promote local sourcing of raw materials and production of various other items that were hitherto imported into the country.

According to Onu, his ministry had inaugurated a consultative committee involving all Ministries, Departments and Agencies as well as other organised private sector players that deal with raw material procurement and development to drive the implementation of the project. He also said that enough measures were being put in place to reverse the mass movement of professionals and experts from Nigeria to foreign lands.