Things are looking up in the mining sector in Nigeria. A sector where illegal activities ruled in the past and revenue ignored by the government is beginning to yield revenue to the country. Yet, there are indications that whatever is being realised now may just be the tip of the iceberg. Dr. Dele Alake, minister of Solid Minerals said 118 new private mineral buying centers had been registered, while 867 licenses have been approved in the sector. Already, according to the minister, Nigeria’s mining sector has recorded N6.96 billion have been generated so far by the sector, raising hope that more will come in with the increase in the number of players in the sector.
The confidence expressed by Dr. Alake also gave the hope that the growth of the sector is certain. For instance, the sector is expected to receive further boost from the establishment of the Nigerian Solid Minerals Corporation and collaborations with countries like France and Western Australia. These partnerships aim to enhance Nigeria’s geological capacity, promote value addition, and attract investments.
With Nigeria’s leadership in the African Minerals Strategy Group, the country is poised to become a major player in the global mining industry. The government’s value addition policy has also promoted local beneficiation, positioning Nigeria for a bright future in the sector.
