Featured National News

Solid Minerals : NMDC Urges Government To Partner Private Sector

National Metallurgical Development Centre, NMDC, Jos, has called on the Federal government to partner the organized private sector to boost the mineral sector.

Director General of the Centre, Professor Linus Asuquo made the call while delivering his lecture at the 1st Solid Mineral Resources Trade Fair in Abuja.

Professor Asuquo stressed that the organized private sector in the country has a great role to play if Nigeria must achieve sustainable and inclusive economic growth and development by investing in the solid mineral sector of the economy.

According to Professor Asuquo the participation of the Organized Private Sector (OPS) in this area remains abysmally low, despite the abundance of solid minerals in Nigeria.

He emphasized that more attention needed to be channelled to the solid minerals sector to enable it yield dividends to the nation’s GDP.

The Director-General of the NMDC who further explained that solid minerals is the backbone for any industrialization noted that the nation must stop being a consuming nation but a producing nation.

“We have 44 minerals in 36 states of the federation , we need to add values to the minerals especially, the solid minerals which is the backbone for any industrialization, we must stop being a consuming nation but a producing nation”, he explained.

“In 2015 the contribution from this sector to GDP was NI.03 billion, in 2022 the contribution was NI.07 billion, just a slight increase. South Africa in the same year, had a GDP in the mining Sector of N5.55 trillion. Obviously, Nigeria OPS needs to do more. With Nigeria’s GDP of 448.12 billion USD in 2019, 440.78Billion USD in 2021, 454.00 billion USD in 2022 and projected to trend around 468.99 billion USD in 2033”

“One would have expected a greater share from the mining sector given the abundance of solid minerals in the country. Rather the revenue from this sector ends in the coffers of illicit and illegal miners” he added.

“This underscores the importance of the organized private sector participation in solid minerals exploitation in Nigeria. The sector needs to be organized, with big companies with financial muscles participating since the mining sector is capital intensive.

Professor Asuquo who explained that development is achieved when investments in solid minerals are made in a locality added that a Poor community is transformed into a rich community, jobs are generated, while economic activities will be increased.

Earlier in his address of welcome, the President, Nigeria -Isreali Chamber of Commerce, Industry and Agriculture, ACCIMA, Alhaji Iddo Sule said of all natural resources in Nigeria have not been harnessed for rapid development.

“We are blessed with so many natural resources and there is no local government area in Nigeria that does not have mineral resources to its comparative advantage, our own is to create awareness that God has blessed this country”, he said.

The theme of the event is : “The Role of Organized Private Sector in Achieving Sustainable and Inclusive Economic Growth and Development Through Solid Minerals”

By Georgina Humphrey,Edited by Grace Namiji

Related posts

Climate Change Innovation Hub Will Harness Potential In Youths -Clerk


Matthew McConaughey Calls For Gun Control


Wife Calls For Justice After Italy Street Killing Of Vendor


Leave a Comment