Analyst Steven Olajumoke highlighted that the recent N26 billion sand mining agreement between Japaul Gold and Gravitas Investment Limited is set to boost Nigeria’s GDP through tax revenues, royalties, and dividends. This project, which involves extracting 3.5 million cubic metres of sand for the reclamation of Gracefield Island in Lekki, Lagos, is expected to generate over 1,000 jobs and enhance local businesses.

This contract is also anticipated to improve local infrastructure, leading to better roads and utilities. The reclamation project, which covers 200 hectares of land, aims to develop luxurious amenities such as a golf course and shopping malls, paving the way for a premier destination similar to Banana Island.

Olajumoke further explained the environmental and social advantages, which include habitat creation, the reduction of pollution, and increased standards of living for locals. The deal promises to enhance educational and healthcare resources alongside vital infrastructure improvements.

N26 billion sand mining deal between Japaul Gold and Gravitas Investment Limited is a significant investment aimed at economic development in Nigeria’s mining sector. It focuses on extracting sand for land reclamation in Lekki, Lagos, while promising job creation, infrastructural improvements, and boosts in tourism. Developing local content and enhancing environmental protection are also key aspects of the project.

The N26 billion sand mining deal is expected to yield economic, environmental, and social benefits for Nigeria. Analysts project that it will significantly contribute to GDP growth, create jobs, improve local infrastructure, and enhance living standards while ensuring environmental sustainability. The project embodies a key step towards local content development and tourism enhancement in Nigeria.

Original Source: newtelegraphng.com

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