Neglecting Mining’s Potential Stunts Nigeria’s Economic Growth – Insights from Experts

The Nigerian mining and geosciences community is shedding light on the significant underestimation of the mining sector’s contribution to the country’s GDP. In light of this revelation, there is a growing consensus for the necessity of amending laws that have relegated mining to the exclusive list.

Professor Akinade Olatunji, President of the Nigerian Mining and Geosciences Society, articulated this viewpoint during a gathering of industry stakeholders in Jos, the capital of Plateau state. The primary objective of the meeting was to devise strategies aimed at propelling the mining sector forward and addressing impediments that have hindered its progress.

In his address, Professor Olatunji underscored the dire need for legal reforms to rectify the miscalculation of the sector’s actual GDP contribution. He emphasised that the challenges besieging the mining industry are not unique to Nigeria, thereby warranting enhanced enforcement of the regulations governing the country’s mining sector.

Furthermore, Professor Olatunji urged state governments to collaborate with national lawmakers in advocating for amendments to the laws that have placed mining on the exclusive list. Rather than imposing outright bans on mining activities within their respective states, he advocated for proactive engagement with federal authorities to facilitate meaningful alterations to the existing legislation.

This pressing issue is poised to take centre stage at the forthcoming 59th annual conference and exhibition of the Nigerian Mining and Geosciences Society, scheduled to take place in Jos after a 22-year hiatus. Notably, Jos holds distinction as the historical epicentre of mining in Nigeria, rendering it a fitting setting for these critical discussions.

In conclusion, the insights provided by Professor Akinade Olatunji and other industry experts illuminate the urgent need for legal reforms to properly acknowledge the mining sector’s true potential. The upcoming conference represents a significant opportunity for stakeholders to collaboratively advocate for legislative changes that will unlock the sector’s capacity to drive economic growth and development.

– Nkoli Omhoudu