Manufacturers are pushing for a 60 per cent reduction in the cost of raw materials imports.
The cost hit N4.53trillion last year, it was learnt yesterday. How to meet the target was a subject of discussion at the Nigeria Manufacturing and Equipment (NME) expo, co-located with the Nigerian Raw Materials (NIRAM) expo 2025, which kicked off in Lagos yesterday.
Organisers hope to leverage the platform to explore and scale up home-grown technologies and local sourcing to significantly cut Nigeria’s huge raw material import bill.
Organised by Manufacturers Association of Nigeria (MAN) and Raw Materials Research and Development Council (RMRDC), this year’s three-day NME/NIRAM expo has the theme: “Accelerating sustainable manufacturing through cutting-edge technology solutions.”
The expo is focused on driving industry stakeholders to engage in innovative technology solutions that will improve manufacturing and, in turn, enhance the quality of locally manufactured products.
It, therefore, seeks to provide a one-stop shop for equipment manufacturers, raw materials producers, local fabricators and other stakeholders in the manufacturing sector to showcase their new and emerging technologies, machinery, and innovations.
