The Nigeria Extractive Industries Transparency Initiative (NEITI) said it has unveiled an agenda to reposition Nigeria’s solid minerals sector.
The Director, Communications & Stakeholders Management at NEITI, Obiageli Onuorah, in a statement on Friday, said despite its vast potential, the sector contributed less than 1 per cent of GDP to a powerhouse for economic diversification, jobs, and sustainable community development.
“NEITI’s Call: No more lamentation. No more policy paralysis. Nigeria must legislate, implement, and deliver reforms that transform minerals from buried wealth to visible prosperity for all,” the statement said.
For decades, NEITI said Nigeria’s solid minerals sector has underperformed despite its vast potential.
It explained that its latest audit shows revenues of N401.87 billion in 2023, representing only 0.83 per cent of GDP.
It noted that weak laws, illegal mining, smuggling, outdated governance, and neglected host communities have kept the sector stagnant while global demand for green-energy minerals like lithium, cobalt, and nickel surges.
The Executive Secretary of NEITI, Ogbonnaya Orji, said, “The time for lamentation is over. If we fail to act boldly and immediately, others will transform their mineral wealth into prosperity while Nigeria watches.”
The extractive agency said the transition to clean energy has made Nigeria’s mineral resources, from lithium to rare earths, more valuable than oil.
Reform
With decisive reforms, according to NEITI, the sector can attract billions in investment, generate massive revenues, create quality jobs (especially for youth and women), and bring visible development to host communities.
NEITI called on the federal government and the National Assembly to seize this historic moment by passing a new solid minerals reform Act within 12 months.
“Creating a national minerals development council chaired at the Presidency, launching a real-time mining cadastre portal for transparent, digital licensing, and Embedding Free, Prior & Informed Consent (FPIC) into law for host communities.
“Strengthening the solid minerals development fund to finance schools, roads, and hospitals, deploy technology to curb smuggling and illegal mining, investing in local processing and value addition to retain wealth and jobs, and guaranteeing gender and youth inclusion across the mining value chain,” the statement said.
NEITI pledged to serve as the accountability anchor of these reforms, using credible data, independent audits, and multi-stakeholder monitoring to track revenues, expose gaps, and ensure communities’ benefit.
“Our reports will no longer sit on shelves; they will be powerful tools to hold both government and companies accountable and to drive real change,” Mr Orji said.
