The Federal Government of Nigeria has received advice to discontinue the exportation of mineral resources and prioritize domestic processing and manufacturing in order to create jobs and diversify the economy.
Professor Akinade Olatunji, the President of the Nigerian and Geosciences Society, conveyed this appeal on Monday during a media briefing in Ibadan, the capital of Oyo state.
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Nigeria possesses abundant natural resources, including water, oil, gas, minerals, and gemstones. However, these resources have not been effectively utilized for economic growth. Experts in the industry have identified illegal mining activities, insecurity, poor government policies, and other challenges as obstacles to the sector’s development.
The President of the Nigerian Mining and Geosciences Society, speaking at the media briefing, called for the government to empower local manufacturing industries and maximize the sector’s potential for
national development.
Geologists at the association’s 32nd leadership inauguration also expressed concerns about the sector’s limited contributions to Nigeria’s GDP. They advocated for a strategic repositioning of the sector to attract investors, and stakeholders advised the newly appointed association leadership to implement measures aimed at influencing government decisions and enhancing the mining sector’s attractiveness and productivity.
