The Federal Government stated Nigeria’s economy might hit $1 trillion by 2030 if it achieves 30 % value addition to all raw supplies earlier than export.
Minister of Innovation, Science and Technology, Dr Kingsley Tochukwu Udeh, acknowledged this on Monday on the 2nd African Raw Materials Summit 2026 in Abuja.
“Africa holds 30 % of worldwide vital mineral reserves—a complete mineral endowment valued at US8.6 trillion remaining undeveloped.
“We possess huge reserves of cobalt, lithium, manganese, bauxite, uncommon earths, immense agricultural output (cocoa, cashew, palm oil, cassava), and expansive renewable power sources. Yet, Africa’s share of worldwide manufacturing value-added stays in low single digits.
“The AfCFTA creates a single market of 1.3 billion people and US571 billion in income gains and creates 18 million jobs by 2035. Realising this requires eliminating non-tariff barriers, enforcing rules of origin, and driving private investment,” Dr Udeh stated.
The minister stated the amended invoice for obligatory value addition to all raw supplies earlier than export is now again to the President for assent.
The Minister of State for Industry, Trade & Investment, John Owan Enoh, stated if the invoice on 30 % value addition turns into regulation, it will fully remodel Nigeria’s industrial panorama.
He added that the invoice will make it necessary that no raw material from this nation will get exported with out not less than including value to not less than 30 %. So I hope that we proceed to work collectively to get that to occur.”
“What we are short of is our inability to transform those raw materials. What we continue to do is to continue to export jobs, export prosperity, and import all of it that has brought us to where we are,” he stated.
The Sudanese Minister of Minerals, Dr Noureldaim Taha, in his deal with, highlighted 4 priorities for the continent to take advantage of from its raw supplies, which embody strengthening accountable mining, refining and clear and dependable geological knowledge.
He stated Africa can course of extra of its minerals throughout the continent, including that funding, processing and refining can create expert jobs and help native companies and retain larger value in our economy.
“Regional partnerships can help us to build commercially viable projects. Second, we can connect mining with reliable and affordable energy. Planning minerals and energy projects together can support industrial growth and extend electricity access to surrounding communities, including through renewable energies where suitable,” he stated.
The Director General, Raw Materials Research and Development Council (RMRDC), Nnanyelugo Martin Ike-Muonso, stated that the continent can’t construct a future on unprocessed raw exports.
“In 2025 alone, Nigeria exported billions in raw cocoa, cashew, and sesame seeds, immense wealth left on overseas tables. The lesson is stark: the African Continental Free Trade Area (AfCFTA) provides us a 1.3-billion-person market, however with out native manufacturing capability, it’s merely an invite for overseas items. Local value addition is the indispensable engine that converts AfCFTA’s promise into real African prosperity.
“The Nigeria Industrial Policy 2025 —a strategic framework concentrating on nationwide competitiveness, job growth, and native sourcing— helps this initiative and enhances it with key useful resource controls, together with a ban on raw shea nut exports to safeguard a $300 million market and help women-led rural processing hubs.
“Additionally, focused industrial funding mobilised more than N644.9 billion via the Bank of Industry in 2025, generating and securing roughly 1.7 million direct and indirect jobs across key sectors,” he stated.
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