Despite huge mineral deposits across the country, the mining sector contributes less than one percent to the national economy, the Nigeria Extractive Industries Transparency Initiative (NEITI) has said.
The Executive Secretary of NEITI, Dr. Orji Ogbonnaya Orji, disclosed this when he received the executives of the Miners Association of Nigeria (MAN) led by their President, Alhaji Kabiru Muhammed.
“From findings of NEITI’s audits reports, the mining sector currently contributes less than one per cent to the country’s Gross Domestic Product (GDP). This is unacceptable considering the quantum and variety of mineral resources spread all over Nigeria,” he said.
He said: “We are aware that the sector is dominated by artisanal and small-scale miners, and we have advised the government through recommendations contained in our reports to devise means to formalize operations of this category of miners to enable them to contribute to the development of the sector and the economy.
“I am aware that this process has commenced by the Ministry of Mines and Steel Development. We need this to be hastened.”
Orji said the activities of illegal minerals is a major revenue leakage to the government and that it was worrisome to the agency.
MAN president said NEITI and MAN have come a long way as natural partners with common interests in the growth and development of Nigeria’s mining sector.
