The Nigerian Senate has announced plans to ensure that all raw materials of Nigerian origin must undergo a minimum of 30% local value addition before export, as part of efforts to boost domestic enterprise and create jobs.

Senate President Goodwill Akpabio made this declaration on Tuesday while opening the Africa Raw Materials Summit in Abuja, emphasizing that the Senate has resolved to address what he described as a "structural imbalance" in Nigeria's export economy.

"We extract, yet others manufacture. We export in raw form yet import with added value. This extractive model—fuelled by colonial legacies and sustained by global asymmetries—must now give way to a new paradigm rooted in local processing, regional integration, and sovereign economic vision," Akpabio stated.

The Senate President confirmed that the 30% Minimum Value-Addition Bill is currently under consideration and will be passed this week before being transmitted to the House of Representatives for concurrence. He clarified that the bill is not intended to stifle trade but rather to stimulate domestic enterprise, create employment opportunities, attract investment, and build resilient value chains that benefit Nigerians.

Akpabio described the proposed legislation as a "moral compass" for other African countries, suggesting it could serve as a model for similar initiatives across the continent.

The Minister of Innovation, Science and Technology, Uche Nnaji, who was also present at the summit, endorsed the initiative, describing the theme "Shaping the future of Africa's resource landscape" as timely given Africa's current resource utilization patterns.

"Africa stands at a defining moment. For too long, we have exported raw potential and imported dependency," Nnaji remarked. "Value addition is not optional—it is essential. It is the engine of youth empowerment, SME growth, and economic sovereignty."

Professor Nnanyelugo Ike-Muonso, Director General and CEO of the Raw Materials Research and Development Council, emphasized that value addition would build globally competitive African brands while deepening regional value chains and stimulating intra-African trade in intermediate and finished goods.

"This summit is not just a dialogue; it is Africa's proclamation of industrial independence, a renewed consciousness of authentically becoming producers of value rather than exporters of potential," Ike-Muonso said.

The proposed policy represents a significant shift in Nigeria's approach to resource management and could have far-reaching implications for the country's economic development strategy if successfully implemented.