Kogi Commerce Ministry In Collaboration With Raw Materials Research and Development Council Sets To Host Investors’ Stakeholders Forum Meeting on Cashew Value Chain

The Kogi State Ministry of Commerce & Industry, led by Hon. Muhammed Muktar Shuaibu, is committed to collaborating fully with the Raw Materials Research and Development Council (RMRDC) on various initiatives aimed at promoting industrial development, value addition, and attracting investments in the State.

During a recent courtesy visit by the State Coordinator of RMRDC, Dr. Peter Adegede, and his team, the focus was on strengthening the longstanding relationship between the Council and the Ministry. Dr. Adegede emphasized the importance of updating the State on upcoming programs and fostering a strong partnership with the Federal Government agency to drive sustainable economic growth.

The RMRDC Coordinator highlighted the Council’s strategic presence in every state capital across Nigeria, underscoring the Ministry of Commerce & Industry as its primary point of contact for effective collaboration. He mentioned successful past initiatives, such as crop enhancement programs for castor and sesame seeds, as well as the establishment of a cashew processing factory at Kogi State University in partnership with the Council.

The Council’s core mandate of promoting value addition to agricultural and solid mineral raw materials was emphasized, with a focus on encouraging local processing to create jobs and boost economic growth. A bill is currently in the National Assembly seeking mandatory 30% value addition to raw materials before export, aimed at incentivizing investors to establish processing facilities locally.

In preparation for the upcoming African Raw Materials Summit, the Council has invited Kogi State to actively participate and showcase its raw material potential to an international audience. Additionally, plans are underway for a Cashew Investors’ Forum in Kogi, approved by the Council’s headquarters due to the State’s significant cashew production capacity.

Responding, Hon. Muhammed Muktar Shuaibu appreciated the initiative andy commended the Council’s long-standing efforts in research, industrialization, and development.

“Kogi has already passed an Executive Order mandating at least 50% value addition to all raw materials before export,” he revealed.

“We are on the same page with your bill at the federal level, and our implementation is already underway.”

He assured the delegation of the Ministry’s commitment to the Investors’ Forum, noting that the Director of Investment Promotion will forward the names of two nominated staff to join the committee.

“Kogi has designated over 250 hectares of land as a Free Trade Zone and we have hosted investors from around the world, including over 10 Chinese firms,” Hon. Shuaibu stated.

“His Excellency, Alhaji Ahmed Usman Ododo, will be visiting China shortly to further promote investor relations. I believe we will convene with RMRDC, NEPC, and other stakeholders to consolidate our collaboration.”

The Commissioner also pledged to prioritize the Resource Center proposal and support the required documentation for its establishment.

The visit concluded with mutual appreciation and a commitment to continued engagement between both parties.

Taiye Bayode
Information Officer
*Ministry of Commerce & Industry*