Nigeria’s push to transform its resource base into industrial output will come under fresh scrutiny later this month as senior policymakers, industry leaders and academics gather in Lagos for the 10th edition of The Bullion Lecture. The lecture, scheduled for 23 April at the Civic Centre in Victoria Island, will be delivered by Nnanyelugo Ike-Muonso, who is expected to make a case for deeper value addition and structural reforms aimed at reducing Nigeria’s dependence on raw commodity exports.
According to organisers, the theme of this year’s edition, ‘From Resources to Prosperity: How Raw Materials Development, Value Addition and Innovation Can Catalyse Nigeria’s Industrial Renaissance’, reflects growing policy interest in repositioning Africa’s largest economy as a manufacturing-led hub rather than a primary commodity supplier.
Ike-Muonso, a natural resource economist and academic with more than three decades of experience in raw material markets and supply chain economics, currently leads the Raw Materials Research and Development Council, where he has championed policies aimed at expanding domestic processing capacity.
Central to his policy push is the proposed 30 per cent value-added bill, which seeks to mandate local processing of extracted raw materials before export. The initiative is part of a broader industrial strategy that also includes restricting imports of commodities where Nigeria has sufficient domestic capacity.
Supporters of the reforms argue that such measures could strengthen domestic manufacturing, reduce foreign exchange pressure, and create stronger linkages between Nigeria’s extractive industries and its industrial base. Critics, however, have previously warned that aggressive trade restrictions could raise production costs and complicate integration into global supply chains.
Related News End oil theft permanently! Reforms prevented 120% inflation surge, says Adedeji FAAC deductions gulp 41% of N84tn revenue in three years The Bullion Lecture has, over the years, become a platform for debates on structural economic reforms and long-term development strategy.
This year’s edition marks its 10th anniversary and will also feature the presentation of a book titled Pathways to Nigeria’s Socio-Economic Transformation, edited by Dr Ray Echebiri, founder of the Centre for Financial Journalism. The event will be chaired by the former president of the National Association of Chambers of Commerce, Industry, Mines and Agriculture, Otunba Kelvin Oye, while panel discussions will include contributions from industry and state-level economic policymakers, including the Chief Executive Officer of Geo Fluids Plc and the Anambra State Commissioner for Industrial Development.
Expected attendees include senior government officials, financiers, manufacturers, energy sector executives, maritime operators, diplomats and representatives of multilateral institutions. Organisers say the gathering is designed to deepen dialogue on how Nigeria can translate its vast raw material endowment into sustained industrial growth, particularly at a time of heightened focus on economic diversification and export competitiveness.
The lecture is expected to further intensify policy conversations around industrialisation strategy, value-chain development and Nigeria’s long-term ambition to position itself as a regional production hub. The lecture, scheduled for 23 April at the Civic Centre in Victoria Island, will be delivered by Nnanyelugo Ike-Muonso, who is expected to make a case for deeper value addition and structural reforms aimed at reducing Nigeria’s dependence on raw commodity exports.
The lecture is expected to further intensify policy conversations around industrialisation strategy, value-chain development and Nigeria’s long-term ambition to position itself as a regional production hub. According to organisers, the theme of this year’s edition, ‘From Resources to Prosperity: How Raw Materials Development, Value Addition and Innovation Can Catalyse Nigeria’s Industrial Renaissance’, reflects growing policy interest in repositioning Africa’s largest economy as a manufacturing-led hub rather than a primary commodity supplier.