The Nigerian Senate has passed a bill mandating all raw materials to undergo a minimum of 30 per cent local processing before they are exported from the country.

The bill was sponsored by the lawmaker representing Ebonyi North, Senator Onyekachi Nwebonyi. It seeks to promote value addition, strengthen the local manufacturing sector, reduce reliance on imports, and stimulate sustainable economic growth in Nigeria.

Any exporter who fails to meet the 30 per cent processing requirement will be subjected to a 15 per cent levy on the export value of the raw materials and may face suspension or revocation of their raw material value addition certificate.

The Senate President, Godswill Akpabio, noted that the amendment marks a major step toward the country’s industrialisation.

“This bill is expected to create job opportunities, boost Nigeria’s trade competitiveness globally, and promote responsible management of the country’s natural resources. It will increase capacity to reduce reliance on totally imported raw materials, promote sustainable resource management and environmental protection through the adoption of best practices in the utilisation of locally sourced raw materials. Additionally, the bill will reduce carbon footprints.

“This will support the adoption of advanced processing technologies in local industries to improve efficiency and product quality,” said Akpabio.

He added that the law will support the adoption of modern technologies to improve efficiency and quality in the country’s local manufacturing sector.