A FORMER Secretary to Ebonyi State Government, Prof. Benard Odoh has applauded President Bola Tinubu’s appointment of Prof. Nnayelugo Ike-Muonso as the Director General and Chief Executive Officer of the Raw Materials Research and Development Council, (RMRDC).
In a statement he personally signed and made available to journalists in Abuja, Odoh noted that the appointment of Ike-Muonso – an Economic maestro is a strategic and informed decision that is deeply rooted in the consideration of the intricate interplay of global raw materials economics and supply chain dynamics that can boost national economic growth.
“As the driver of the research council, there’s no doubt Prof. Ike-Muonso’s background as a professor of economics 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 stated, adding that;
“His expertise knowledge would ensure that the council can make data-driven decisions that align with both global trends and national interests.”
Prof. Odoh
The Professor of Geophysics further observed that, “The global energy sector is currently 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.
According to him, “The global supply chain for critical raw materials is strained by geopolitical tensions, environmental regulations, and logistical challenges. Prof. Ike-Muonso’s strategic management skills are essential for addressing these gaps. His experience in economic policy and strategic planning will enable the RMRDC to develop robust frameworks for securing raw materials, fostering domestic production, and minimizing dependency on volatile international markets.”
Odoh further remarked that, “Innovation in raw materials processing and utilization is key to staying competitive in the global market. Prof. Ike-Muonso’s academic background includes significant contributions to research and innovation. Under his leadership, the RMRDC can prioritize technological advancements and partnerships that enhance Nigeria’s capacity to produce and process raw materials more efficiently and sustainably.”
While hailing Prof. Ike-Muonso’s economic insights as vital for understanding these trends and mitigating their impact on Nigeria’s raw materials sector, the varsity Don insisted that, “His ability to analyze and forecast market shifts will help the RMRDC develop strategies to secure stable supply chains and foster sustainable growth”.
Odoh said hence 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, “the council by leveraging Prof. Ike-Muonso’s economic expertise can better align its research and development efforts with national economic goals and interests, concluding that;
“This alignment is crucial for creating jobs, boosting industrial productivity, and ensuring sustainable economic growth.”
