Daily Trust (Abuja)

Nigeria Loses N1 Trillion Annually On Importation of Industrial Raw Materials

15 February 2013

Former President of the Institute of Chartered Chemists of Nigeria Mr Harry Okolo has said that the country loses about N1 trillion annually to importation of industrial raw materials.

Okolo made this known while speaking with newsmen yesterday at the ongoing Raw Materials Research and Development Council (RMRDC) techno-expo and silver jubilee.

He said that the country lost N1 trillion to the importation of between 80 per cent and 90 per cent industrial raw materials needed in the manufacturing and construction sectors of the economy.

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