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Senate advances bill mandating 30% local processing of raw materials

Despite widespread support, Sen. Olalere, expressed concerns about the bill’s feasibility, especially in sectors lacking the capacity for local processing. The senate has passed for second reading, a bill seeking to mandate the domestic processing of at least 30 percent of raw materials before export.  This development came during Tuesday’s plenary session, following the presentation of a proposed amendment to the Raw Materials Research and Development Council Act, aimed at promoting local production and value...

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