The mandates of the Council as listed in the Act are:

• Draw up policy guidelines and action programmes on raw materials acquisition, exploitation and development.
• Review from time to time, raw material resources availability and utilization with a view to advising the Federal Government on the strategic implication of depletion, conservation or stock-pilling of such resources
• Advise on adoption of machinery and processes for raw materials utilization.
• Encourage publicity of research findings and other information relevant to local sourcing of raw materials for industries
• Encourage growth of implant research and development capabilities.
• Advise on and devise awards or systems for industries that achieve any break-through or make innovations and inventions
• Organize workshops, symposia and seminars from time to time designed to enlighten people on new developments and solutions discovered
•  Undertake measures to ensure the systematic exploitation, development and utilization of Nigeria's raw materials resources.
•  Undertake research and development on local raw materials for utilization by industries.
• Liaise with relevant regulatory agencies for the standardization of raw materials to meet industrial specification.
• Promote Nigeria’s competitiveness in raw materials and products development.
• Establish raw materials analysis and certification laboratories for use by industries.
• Consider and advise on special research grants for specific objectives, and
• Consider and advise on any other issue capable of enhancing the objectives of the Council.