The Nigeria Extractive Industries Transparency Initiative (NEITI) has called on policymakers to create a harmonized, transparent, and predictable regulatory framework for the country’s solid minerals sector. This initiative aims to sustain growth and attract long‑term capital investment. According to Dr. Orji Ogbonnaya Orji, NEITI’s Executive Secretary, Nigeria’s mining sector is at a critical juncture, undergoing reforms to reposition it as a key driver of economic diversification and the energy transition.
NEITI’s 2023 Solid Minerals Industry Report shows that the sector’s contribution to GDP remains below 1%, even though revenues rose from ₦339.57 billion in 2022 to ₦401.87 billion in 2023. The report also highlights that artisanal and small‑scale mining accounts for over 80% of total production volumes but contributes less than 30% of royalties paid, underscoring deep governance and structural challenges that require urgent reform.
The Federal Government has undertaken bold measures, including revoking dormant licenses, deploying Mining Marshals to curb illegal mining, and launching the Nigeria Mineral Resources Decision Support System (NMRDSS). NEITI commends these steps, emphasizing that transparency builds trust and drives investment. The agency has evolved from an audit body into a reform institution, conducting a national study on the impact of the energy transition on Nigeria’s oil‑dependent economy and developing a policy brief on a Just Energy Transition and Climate Accountability Framework.
To further develop the sector, NEITI recommends streamlining fiscal and royalty regimes, promoting value addition and local processing, strengthening environmental, gender, and community‑development frameworks, and pursuing comprehensive reforms that enhance indigenous participation and protect local jobs. The agency also urges a strategic focus on critical minerals such as lithium, cobalt, and manganese to position Nigeria advantageously in the global energy transition.
Minister of Solid Minerals Development Oladele Alake presented a status report on reforms initiated by the current administration to transform the mining sector. Dr. Orji addressed a special mining forum, underscoring the importance of transparency and accountability in repositioning the sector for greater productivity, investor confidence, and sustainable impact. NEITI’s efforts aim to ensure that the mining sector contributes significantly to Nigeria’s economic growth and development while promoting transparency, accountability, and sustainability.
Comments are closed for this story.