Unlocking Nigeria's Solid Minerals Potential for Economic Growth

Unlocking Nigeria's Solid Minerals Potential for Economic Growth

By Admin 

The Nigerian Export Promotion Council (NEPC) is set to unlock the vast potential of solid minerals to drive economic growth and development in Nigeria. According to Mrs. Nonye Ayeni, Executive Director/CEO of NEPC, the council's initiative aims to contribute to the growth and development of the solid minerals sector, which is richly endowed in Nigeria, particularly in Edo State.

Edo State is blessed with an array of mineral deposits, including kaolin clay, limestone, gypsum, marble, granite, feldspar, dolomite, iron ore, and lignite. 

These mineral resources have the potential to drive economic diversification and job creation, particularly in rural areas where artisanal mining activities are significant sources of livelihood.

However, the solid minerals sector is faced with numerous challenges, including informality, lack of funding, and inadequate mining technology.

 To address these challenges, Ayeni proposed the establishment of state-supported cooperatives to integrate artisanal miners, capacity training on sustainable extraction and safety, and the development of a mineral processing center/facility to add value to raw materials.

The NEPC's mandate is to diversify Nigeria's export base by promoting and facilitating the development of non-oil exports. 

The council recognizes the contributions of the solid minerals sector to non-oil exports portfolio and the tremendous opportunities in achieving greater economic potentials through this intervention.

The seminar, themed "Strategic Engagement on Formalization/Standardization of Solid Minerals Development for Export Competitiveness," brought together policymakers, miners, processors, exporters, and other stakeholders to deliberate on practical strategies to enhance the formalization of operations, improve product quality, and ensure that solid minerals meet global market standards.

The Commissioner for Mining, Oil and Gas, Andrew Ijegbai, represented by the Director of Mining, Ihianle Omoruyi, commended the organizers of the event, saying what the country needs at this time is the development of the mining sector. 

He revealed that the Edo Government has floated and secured a license for a mining company and called for investors to take advantage of the window of opportunity.

The seminar aimed to provide a platform for stakeholders to share insights, experiences, and recommendations to shape actionable policies and frameworks that will drive the sustainable growth of the sector. 

With the right strategies and support, Nigeria's solid minerals sector can become a significant contributor to the country's economic growth and development.

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