The Chairman of BUA Group, Abdul Samad Rabiu, has called for a major shift in Nigeria’s economic strategy, urging the country to move away from raw material extraction and focus more on value addition. He said Nigeria must begin processing its natural resources locally instead of exporting them in their raw form.
Rabiu explained that exporting unprocessed materials limits the country’s earnings and job opportunities. According to him, developing industries that refine and manufacture finished goods will create more employment and strengthen the national economy.
He stressed that value addition would help Nigeria increase revenue, reduce dependence on imports, and improve industrial growth. Rabiu also noted that countries that invest in processing and manufacturing tend to enjoy stronger and more stable economies.
The BUA chairman encouraged policymakers and private sector leaders to work together to promote local production. He said that with the right policies, infrastructure, and investment, Nigeria can transform its economy and achieve long-term development.
