Nigeria’s Riches: 44 Highly Demanded Minerals Remain Unquantified
During a recent appearance before the Nigerian Senate Committee on Solid Minerals, the Honourable Dele Alake, Minister of Solid Minerals Development, underscored that Nigeria is in possession of 44 minerals that are in high demand globally. Regrettably, the country currently lacks comprehensive data regarding the quantities of these valuable resources, thereby posing a substantial barrier to attracting significant investment from international stakeholders.
The Honourable Minister emphasised the necessity of accurate geo-scientific data, which is imperative for generating interest from major investors. He highlighted that Nigeria heavily relies on international assistance due to the absence of local equipment and technical personnel, thereby underscoring the need for budgetary allocation from the government and esteemed senators.
In order to optimise the country’s mineral wealth and enhance its Gross Domestic Product (GDP), the Minister stressed the significance of establishing enduring infrastructure and implementing preemptive strategies to combat illegal mining and other illicit activities that may impede the industry’s growth.
The Minister further underscored the substantial potential of lithium, a mineral abundantly found in Nigeria, which has already garnered noteworthy attention.
It is evident that Nigeria’s solid minerals sector presents significant opportunities for economic growth and prosperity. However, the lack of crucial data regarding the quantities of these minerals poses a major obstacle for investment and development.
In conclusion, the development of Nigeria’s extensive range of mineral resources necessitates sustained investment, cooperation, and the implementation of strategic initiatives, underscoring the importance of government support and commitment to advance the sector.
