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🇳🇬 Nigeria /Economy & Trade

FG unveils upgraded database for real-time raw materials information

From The Punch · (10h ago) English

Summarized and contextualized by DistantNews.

TLDR

  • Nigeria's Raw Materials Research and Development Council launched an upgraded national database for real-time resource information.
  • The Nigerian Statistical Information System for Products, Raw Materials and Products aims to strengthen industrial planning and improve investment decisions.
  • The new platform integrates with national and international data institutions, addressing challenges of fragmented data and import dependency.

The Raw Materials Research and Development Council (RMRDC) has taken a significant leap forward in bolstering Nigeria's industrial sector with the launch of its upgraded national raw materials database. This initiative, formally known as the Nigerian Statistical Information System for Products, Raw Materials and Products, represents a pivotal moment in the nation's pursuit of a data-driven industrial economy.

We are presenting to the world the second-generation RMRDC database, which is unarguably one of the best—if not the best—platforms for informed decision-making on policies, investments, and manufacturing in this country.

— Prof. Nnanyelugo Ike-MuonsoDescribing the significance of the upgraded national raw materials database.

Director-General of RMRDC, Prof. Nnanyelugo Ike-Muonso, hailed the platform as a superior tool for informed decision-making, impacting policies, investments, and manufacturing. This second-generation database surpasses its predecessor by integrating seamlessly with major national and international data bodies, including the Central Bank of Nigeria, Nigerian Geological Survey Agency, and the National Bureau of Statistics. This enhanced connectivity ensures real-time insights into the availability, quality, and characteristics of Nigeria's vast resource base.

Shortly after its development, we realised it had limitations. It was not well aligned with the HS code, it was static, and it did not allow integration with other databases.

— Prof. Nnanyelugo Ike-MuonsoExplaining the shortcomings of the previous raw materials information system.

The upgrade directly tackles long-standing issues such as fragmented data, over-reliance on imports, and underutilization of local materials. It broadens the scope beyond traditional raw materials to include agricultural produce, mineral deposits, and even waste streams, recognizing their potential as valuable assets through recycling and reuse. While acknowledging current technological limitations in fully quantifying all national resources, the RMRDC's commitment to structured estimates and continuous improvement underscores Nigeria's ambition to harness its full economic potential.

Waste is not waste. Waste is an asset. Once properly harnessed through recycling and reuse, it becomes very valuable.

— Prof. Nnanyelugo Ike-MuonsoHighlighting the inclusion of waste streams as valuable resources in the new database.
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Originally published by The Punch. Summarized and contextualized by our editorial team with added local perspective. Read our editorial standards.

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