Nigeria’s solid minerals sector, valued at approximately $35 billion according to Boston Consulting Group data, is in dire need of a comprehensive transformation to revolutionize the country’s revenue generation methods.....KINDLY READ THE FULL STORY HERE▶

Despite its significant worth, this sector contributes less than two percent to Nigeria’s Gross Domestic Product (GDP), a stark contrast to the at least 10 percent average contribution observed across Sub-Saharan African countries….CONTINUE READING

This substantial disparity underscores the critical requirement for increased investment and advancement within the sector.

The solid minerals sector encompasses various natural resources, including gold, tin, limestone, coal, and others, all of which possess the potential to drive economic growth and job creation.

However, their current underutilization stems from factors such as inadequate infrastructure, insufficient funding, and limited government support.

According to the 2021 industry report published by the Nigeria Extractive Industries Transparency Initiative (NEITI), the nation’s revenue from the solid minerals sector for the entire year of 2021 amounted to a meager N193.59 billion.