The Federal Government has reaffirmed its resolve to halt the export of raw minerals, saying the era of shipping out unprocessed natural resources is coming to an end as the proposed 30% value-addition bill moves closer to presidential approval.
Minister of Innovation, Science and Technology, Kingsley Tochukwu Udeh, said in an interview that the new legislation will require all companies to add a minimum of 30% value to raw materials before exporting them, marking a major shift from decades of economic losses tied to unprocessed exports.
Udeh said the law is intended to ensure that Nigeria retains a substantial share of the wealth generated from its resources. “Before any of our natural wealth leaves this country, at least 30% value shall be added,” he stated, noting that the reform would expand local content and strengthen the nation’s engineering and innovation capacity.
Using lithium as an example, he said the current practice of exporting minerals “in their rawest form” would no longer be allowed. With the new law, Nigeria will begin producing lithium concentrate and lithium salt locally, which he said will translate into jobs, new infrastructure, and increased technical capacity.
He drew parallels with cocoa, lamenting that Nigeria still exports beans only to buy back chocolate at high prices. “We export cocoa beans and buy back chocolate at exorbitant prices. That must stop,” he said.
Udeh described the legislation as a landmark reform capable of transforming Nigeria from an import-dependent nation into an export-oriented economy. He said it would boost GDP, improve the balance of trade, and curb job losses.
The minister explained that what constitutes 30% value addition will vary by mineral, with technical experts defining the requirements for each resource.
He dismissed concerns that stricter rules could discourage investors, insisting the law would instead attract them by offering clarity and long-term protection of value chains. Companies that previously exported raw minerals, he said, would now be motivated to set up processing plants in Nigeria.
Udeh added that the government would back the reform with infrastructure and financial support, citing commitments from agencies such as NEXIM Bank. He stressed that strict sanctions—including fines, imprisonment and economic penalties—would apply to any company that violates the law.
He described the bill as a national asset aligned with President Bola Tinubu’s industrialisation agenda. “Whatever leaves Nigeria from now on must have value. That is dignity and sovereignty for us as a nation,” he said.
