Nigeria Extractive Industries Transparency Initiative (NEITI) has warned that Nigeria’s solid minerals sector is underperforming, contributing only 0.83% of GDP in 2023 despite vast deposits of lithium, cobalt, and gold.
It urged urgent reforms, including passing a new Solid Minerals Reform Act within 12 months, creating a National Minerals Development Council, deploying digital licensing, tackling illegal mining, boosting host community benefits, and promoting local value addition. NEITI stressed that, if properly harnessed, minerals could rival oil in value and play a key role in Nigeria’s economic diversification and energy transition.
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