Nigeria, with its vast mineral resources, has the potential for economic growth and job creation; however, its current contribution to GDP is less than 1%. Dr Kayode Abdulgafar Amuda urges the need for strategic government planning, reliable data collection, improved reporting standards, investment in processing facilities, and youth education to sustainably harness these resources and combat illegal mining.
Nigeria boasts rich solid mineral resources that could significantly boost economic growth and job creation if properly harnessed. In an interview, Dr Kayode Abdulgafar Amuda, a geoscientist from Bayero University Kano, emphasised the underutilisation of these mineral endowments, which currently contribute less than 1% to the GDP mainly due to an overreliance on oil and outdated policies. Dr Amuda highlighted the need for a comprehensive strategic plan by the government to enhance the mining sector’s contribution to the economy, aiming for it to reach at least 10% of GDP. He stressed the importance of establishing a reliable database on mineral resources to inform investment decisions and policy-making. Such data is essential to attract local and foreign investors, ensuring the mining sector remains competitive. Furthermore, effective reporting standards are critical for instilling investor confidence and are already being implemented in various forms across Africa. The significance of processing facilities and a supportive regulatory environment for attracting investment was also discussed. To sustain the mining sector’s growth, creating opportunities for the youth through education and modern technology training is vital. In light of a recent announcement to establish the Nigerian Solid Minerals Corporation, Dr Amuda warned against duplication of efforts with existing regulatory bodies but acknowledged the need for a centralised approach to streamline operations. Finally, he proposed that combating illegal mining requires better regulatory enforcement and alternative livelihood options for those currently involved in illicit activities.
Nigeria is endowed with various solid minerals, including gold, iron, coal, and gemstones, yet their economic potential remains largely untapped. The sector’s contribution to the country’s GDP is minimal due to factors such as policy instability and a lack of accurate geoscience data. Dr Kayode Abdulgafar Amuda, an expert in the field, stresses the importance of strategic planning, reliable data, reporting standards, and investment in processing facilities to realise the full potential of Nigeria’s mineral wealth. Moreover, he advocates for preparing the youth through enhanced educational opportunities in geoscience to ensure a skilled workforce that can support sustainable development in the sector.
In conclusion, Nigeria’s mineral wealth presents a significant opportunity for economic diversification and job creation. To harness this potential, it is crucial to enhance regulatory frameworks, ensure accurate data on mineral resources, implement appropriate reporting standards, and invest in processing infrastructure. Additionally, preparing the youth for careers in the mining industry through education and training will ensure the sector’s sustainability and growth.
Original Source: www.vanguardngr.com