A former secretary to Ebonyi State government (SSG), Prof. Benard Odoh, has said Nigeria needs to leverage its expertise in order to stay competitive in the global raw material market.
Odoh said the global supply chain for critical raw materials is strained by geopolitical tensions, environmental regulations and logistical challenges.
He stated this against the backdrop of President Bola Tinubu‘s appointment of Prof. Nnayelugo Ike-Muonso, as the director general and chief executive officer of Raw Materials Research and Development Council (RMRDC), which he described as a square peg in a square hole.
Odoh, a Geophysicist, said innovation in raw materials processing and utilisation is key to staying competitive in the global market.
He noted that engaging experts in critical areas would help the federal government achieve its lofty aspirations to put the country on a sound scientific and technological pedestal.
In a chat with select journalists in Abuja, the former SSG recalled that Ike-Muonso‘s hands-on experience in scientific research shows that the federal government was eager to join the global strategic thinking that underpins the intricate interplay of global raw materials economics and supply chain dynamics to boost Nigeria‘s economic growth.
Odoh said raw materials are fundamental to Nigeria‘s economic development as they serve as the backbone for various industries, driving innovation and contributing significantly to GDP growth.
He said, “The council, by leveraging Prof. Ike-Muonso‘s economic expertise, can better align its research and development efforts with national economic goals and interests.“
Odoh added, “As the driver of the research council, Prof. Ike-Muonso‘s background as a professor of economics undoubtedly equips him with the analytical prowess necessary to navigate the complexities of global raw materials markets.
“Understanding the economics of supply and demand, pricing mechanisms, and the macroeconomic impacts of raw materials is crucial for effective leadership at the RMRDC.“
He added that the appointee‘s expertise would ensure that the council makes data-driven decisions aligning with global trends and national interests.
The professor of geophysics further said the global energy sector is facing significant supply chain challenges, particularly with critical raw materials like nickel, lithium, and rare earth elements.
“These materials are essential for renewable energy technologies and electric vehicles, with demand outstripping supply and causing market volatility,“ he said.