Experts call for action to end huge revenue loses in solid minerals sector 

By Augustine Aminu

Experts have said appropriate management of solid minerals should translate or return Nigeria from just a minerals’ country to a mining country.

According to them, if the Federal Government had paid enough attention to the development of solid minerals in the country, states would have been well off financially and would not have been talking about bail out any time crude oil prices face southward. 

A report by Nigeria Extractive Industries Transparency Initiative, NEITI, suggests that there are over 40 different kinds of solid minerals and precious metals buried in Nigerian soil, waiting to be exploited. 

The report noted that the commercial value of Nigeria’s solid minerals has been estimated to run into hundreds of trillions of dollars, with 70 percent of these buried in the bowel of Northern Nigeria.

Experts in the mining industry believe that Nigeria loses a whopping N8 trillion annually in unexploited gold alone. Noting that Ajaokuta remains the key to Nigeria’s industrialisation and that getting it back to work is a matter of patriotism.

During the 57th Nigerian Mining and Geosciences Society, (NMGS) Annual International Conference and Exhibition, themed ‘Geosciences, Mining and Environmental Sustainability’ held in Port Harcourt, Rivers State. Minister of Mines and Steel Development, Arc Olamilekan Adegbite, tasked experts in the mining sector on harnessing untapped potential of solid minerals heavily endowed across the 36 States and Federal Capital Territory, FCT, for the benefit of Nigerians. 

He said the time is now for professionals in the industry to put their hearts together and galvanize the sector for rapid growth and development as far as diversification of the economy is concerned.

Executive Director/CEO Nigerian Export Promotion Council (NEPC), said there is the need to promote non-oil exports for Nigeria to meet its national and global economic demands.

Yakusak said that emphasis must shift from crude oil export and be laid on export of Nigeria’s vast resources.

“Recent developments in our national economy and indeed the global economy has made it clear to us that more emphasis should now be laid on export of our vast resources if we must survive as a nation.

“It is unfortunate that Nigeria, having been blessed with resources in agriculture, solid minerals, entertainment industry, creative arts, Information and Communication Technology, fashion and of course manufacturing has continued to rely on export of crude oil as the major source of foreign exchange,’’ Yakusak said.

The Director-General (DG) of the Nigerian Maritime Administration and Safety Agency (NIMASA)  calls on the Federal Government to harness agriculture and solid minerals for the economic growth of the nation.

there was palpable optimism that these sectors could become a major player in the economy.

“There is palpable optimism that the agricultural and solid minerals sector can become a major player in the economy in the coming decades, with value added as much as or even greater than oil and gas.

“More importantly, they will serve as key drivers in the quest for sustainable economic growth and more inclusive development,” he stated.

”The provision of infrastructure, skills development, availability of funds, cooperation from host community and provision of adequate infrastructure is needed”.

”The federal government must ensure that its policies focused on mainstreaming inclusive growth and development in the strategic development of value addition in the mineral and agricultural sector.

“The government must also put more emphasis on the process of developing the sector along its value chain to strengthen economic diversification through effective backward and forward linkages with the rest of the economy,” he said.

Gov. Simon Lalong of Plateau,  has called for stiffer action against illegal mining in the north and other parts of Nigeria. He decried that illegal mining had continued to cause economic and security challenges in the nation . He described the impact of illegal mining as similar to oil bunkering and called for urgent steps to address the menace .

Lalong expressed concern on the huge loss of solid materials by government at all levels, resulting from illegal mining. “Due to the focus on crude oil, not much attention is devoted to the solid minerals theft”.

He said the situation left illegal miners from within and outside the country to have a field day in ripping off the country and devastating local communities. The governor called for deliberate efforts on strengthening unity and progress in Nigeria, while admonishing the exploitation of religion and ethnicity at the detriment of nationhood.