The bill seeks to promote technological transfer to ensure regular value addition to the nation’s solid mineral exploration.
A Bill to monitor the inflow of foreign products and technology into Nigeria, passed its second reading in the House of Representatives on Wednesday.
The sponsor of the bill, Rep. Clement Jimbo (APC,Akwa Ibom), explained that the proposal seeks to leverage Nigeria’s vast and dynamic population to create employment opportunities for youths, transform raw materials into finished products, and enhance the country’s Gross Domestic Product (GDP) while facilitating technology transfer to Nigeria.
During his presentation on the general principles of the bill, Jimbo emphasized that its primary objective is to promote consistent value addition in the exploration of Nigeria’s solid minerals. He noted that the proposal was inspired by the urgent need to create sustainable jobs for Nigeria’s growing youth population.
He further stated that it aims to boost GDP and expand the country’s revenue streams through increased foreign exchange earnings.
“The bill is crucial because the core import of the bill borders on the very essence of our constitutional responsibility to create jobs for youths, process our raw materials into finished goods/products. In the midst of 37.7% unemployment rate, 20m out of school children, $477.4bn GDP and ranked 32nd in the world so this bill will certainly do better.”
The Akwa Ibom lawmaker further highlighted statistics from the National Bureau of Statistics (NBS) showing that Nigeria currently uses over 200 million cell phones, more than 500,000 solar systems, over 12 million vehicles, and millions of cameras, microphones, laptops, and remote controls.
He observed that all these products rely on batteries, which require lithium—a solid mineral now confirmed to exist in large quantities in Nigeria. Citing a report from Deutsche Welle (DW), he noted that lithium deposits have been found in states including Abuja, Nasarawa, Kogi, Ekiti, Kwara, and Cross River.
Jimbo also referred to a statement by the minister of solid minerals, Mr. Dele Alake, who vowed to discourage the export of raw solid minerals without value addition. “This statement aligns perfectly with the intent of this Bill, Mr. Speaker,” he stated.
Speaking to reporters after the plenary session, Jimbo underlined the urgency of passing the bill, emphasizing its potential to significantly improve the lives of Nigerians. He added that the proposed legislation, in compliance with the standing orders of the House as amended, would not have any financial implications when enacted into law.
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