The Raw Materials Research and Development Council (RMRDC) has officially launched its Quarterly Statistical Bulletin Series, a strategic initiative designed to transform Nigeria’s industrial landscape.
This publication aims to serve as a foundational resource for data-driven policy formulation and a critical instrument for industrial advancement in Nigeria.
During the launch event held in Abuja over the weekend, Prof. Nnanyelugo Ike-Muonso, the Director-General of RMRDC, articulated the council’s enduring mission to leverage Nigeria’s abundant raw materials for sustainable industrial development.
Prof. Ike-Muonso highlighted the council’s commitment to providing evidence-based data and insights to stakeholders, investors, and policymakers.
This effort aims to facilitate the identification of opportunities, address challenges, and inform the creation of effective policies to foster economic growth.
“The Quarterly Statistical Bulletin Series offers comprehensive quarterly data on Nigeria’s foreign trade (HS Code 01 – 97), compiled at customs entry points nationwide by the Nigeria Customs Service and integrated into the Nigeria Integrated Customs Information System (NICIS2),” the Director-General noted.
The bulletin includes a detailed analysis of the quantity and value of imports and exports of raw materials and products, categorized by their corresponding Double-Digit HS Code, thereby generating essential economic indicators.
The publication specifically addresses critical issues such as the substitution and deletion of raw materials imports, local utilization rates, and other significant economic components, including employment and exchange rates.
Prof. Ike-Muonso emphasized that the Quarterly Statistical Bulletin is not merely a publication but a transformative resource for national development.
He underscored its role in delivering meticulously analyzed data regarding Nigeria’s foreign trade and raw materials processing.
This tool is crucial for recognizing trends, making informed decisions, and shaping the future of the nation’s industries.