Nigeria has lifted a five-year mining ban in Zamfara State following improved security conditions, as confirmed by the Mining Minister. Previously imposed due to bandit attacks, the ban had hindered the extraction of valuable minerals. The government now aims to diversify its economy and increase mining’s contribution to GDP by attracting investment through various reforms.
Nigeria has lifted the five-year mining ban in Zamfara State following improvements in security, as announced by the Minister of Mining, Dele Alake. The ban, which was implemented in 2019 due to escalating bandit attacks, had stifled access to significant resources like gold, lithium, and copper. Alake noted the enhanced security measures have enabled the state to utilise its wealth of natural resources, which could greatly enhance Nigeria’s financial contributions beyond its heavy reliance on oil.
Zamfara State, rich in minerals, faced a ban on mining activities starting in 2019, primarily due to rising violence and insecurity from banditry. The government’s renewed focus on security has led to a reassessment of conditions in the region, prompting officials to reopen mining to harness the state’s mineral wealth. This move aligns with Nigeria’s broader strategy to diversify its economy and lessen dependence on oil, which presently dominates its GDP.
The lifting of the mining ban in Zamfara represents a significant step in unlocking the state’s mineral potential, which could lead to increased national revenue. Committed to reforming the mining sector, Nigeria aims to attract more investors and enhance its economic framework, thereby fostering a more resilient economy beyond oil dependency.
Original Source: iafrica.com