Nigeria can generate at least N5 trillion annually from mining and exporting of its vast solid mineral deposits, with several multiplier effects of job creation, state development and social infrastructure that could make the solid minerals sector as the main catalyst for the national development, Association of Metals Exporters of Nigeria stated yesterday.
At a press briefing at the weekend in Lagos, the association called on the federal government to provide the enabling environment for the development of the Nigerian solid minerals sector. Metallic solid minerals are the most exported solid minerals from Nigeria.
The Association, which comprises of various companies in the business of metal export, commended the focus of the minister of Solid Minerals, Dr. Kayode Fayemi, and expressed its readiness to partner with the government in the development of the Nigerian solid minerals sector.
President, Association of Metal Exporters of Nigeria, Mr. Seun Olatunji, said there is need for synergy between government agencies and private operators to unlock the values in solid minerals sector.
He noted that with not less than 38 viable solid mineral deposits in sustainable export quantity in Nigeria, the solid minerals sector has the potential to generate not less than N5 trillion annually once the government put in place necessary frameworks.
He pointed out that the solid minerals industry could serve as the much-needed solution to unemployment as the development of the value chain from mining to export can create more than five million jobs.
According to him, there is need for government regulatory agencies such as Standard Organisation of Nigeria (SON) to work with established private sector companies under the auspices of Association of Metal Exporters of Nigeria to develop globally acceptable regulatory standards for Nigerian metallic exports.
He noted that Nigeria has been losing considerable value due to the absence of efficient regulations and standards for metal exports.
Vice president, Association of Metal Exporters of Nigeria, Mr. Bamidele Ayemibo, underscored the need for government to consider viable public private partnership (PPP) option to develop basic infrastructure such as crushing plant and standardized weighing bay among others.
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