The Nigeria Extractive Industries Transparency Initiative (NEITI) has called on the government to enact reforms that will turn the country’s mineral resources into tangible prosperity. Despite its vast potential, the solid minerals sector has underperformed, generating only ₦401.87 billion in 2023—just 0.83 % of Nigeria’s GDP, according to the latest audit. NEITI attributes this poor performance to weak legislation, illegal mining, smuggling, outdated governance, and the neglect of host communities.
Executive Secretary Orji Ogbonnaya Orji stressed that these anomalies have stalled the sector’s growth, even as global demand for green‑energy minerals such as lithium, cobalt and nickel rises. The shift toward clean energy has increased the value of Nigeria’s mineral resources, making them potentially more valuable than oil. With decisive reforms, the sector could attract significant investment, generate substantial revenue, create quality jobs, and foster development in host communities.
NEITI warned that without immediate action, other countries will convert their mineral wealth into prosperity while Nigeria remains idle. To address the challenges, the agency has urged the federal government and the National Assembly to pass the New Solid Minerals Reform Act within 12 months. It also recommends establishing a National Minerals Development Council chaired by the Presidency and launching a Real‑Time Mining Cadastre Portal for transparent, digital licensing.
Further recommendations include embedding Free, Prior & Informed Consent (FPIC) into law to protect host communities, strengthening the Solid Minerals Development Fund to finance infrastructure projects, and ensuring gender and youth inclusion across the mining value chain. Implementing these reforms is essential to curb smuggling and illegal mining, invest in local processing, and retain wealth and jobs within Nigeria. By taking bold, immediate action, the government can transform the nation’s mineral resources into visible prosperity, driving economic growth and development.
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