Nigeria currently imports 95% of the barite required for its oil and gas industry, despite having significant local deposits and the provisions of the 2010 Local Content Act. Patrick Odiegwu, Secretary General of the Association of Miners and Processors, expressed concerns during a recent press conference in Abuja, calling it shameful that after over 50 years of oil production, the country still depends heavily on imports for barite.
Key points include:
– The Local Content Act mandates that 60% of barite should be sourced locally.
– Governments, especially at state and local levels, are urged to better support and develop the mining sector.
– Odiegwu emphasised that barite miners should not continue to face hardships in Nigeria.
This plea comes as the government has announced increased fees and rates to exploit the mining sector’s $750 billion potential, raising concerns among mining operators who are requesting a suspension of these hikes.