Nigeria can earn $12m annually from minerals, says Chamber

 

The Nigeria Chamber of Mines (NCOM), has revealed that the country can earn as much as $12million yearly from the Solid Minerals sector if properly harnessed and developed.

“I wish to observe that Nigeria is blessed with different categories of solid /industrial minerals such as kaolin, limestone, dolomite, gypsum, and metal minerals like tin, columbite, tantalite, iron ore, lead/zinc, precious stones such as tourmaline, sapphire, garnet, topaz, and aquamarine,” among others.

The Chamber however noted that while some of these minerals are export-based, they are only processed for end-use through a complex manufacturing process which the country does not have the local capacity for at the moment.

The President of NCOM, Sani Shehu, in a presentation during an interactive session between the Chamber and the Nigeria Export Processing Zones Authority (NEPZA), in Abuja, therefore sought the Authority’s support for the creation of Minerals Export Processing Zone (MEPZ).

He said that this will help build a properly-structured minerals export zone, which will attract both indigenous and foreign investors.

Shehu said: “This is in line with the government’s aspiration of economic diversification through mining, and will serve as a catalyst for the sustainable mineral export initiative in Nigeria. Also, the establishment of a Minerals Export Processing Zone will create massive employment for the citizenry and sustainable income for the government.”

He remarked that the proposed Minerals Zone will equally make Nigeria the preferred destination for mining, processing and export of solid minerals in the world, stressing