Toba Owojaiye Reporting
In a groundbreaking announcement at the eight edition of the Nigerian Mining Week, President Bola Ahmed Tinubu declared that Nigeria is bidding farewell to the era of exporting raw minerals, including gold and lithium.
The President expressed his determination to transform the nation’s approach to its vast mineral resources, emphasizing the need for value addition before exportation.
President Tinubu highlighted that Nigeria, blessed with abundant mineral wealth, had for too long been sending these resources abroad without capitalizing on their potential at home.
He underscored the employment opportunities that could be unlocked through responsible resource management.
Under his administration’s new policy, raw mineral exports will no longer be the norm. Instead, the government will encourage the domestic processing of mineral resources, boosting economic growth and providing meaningful work for the nation’s youth.
This bold shift in strategy aims to mitigate substantial losses incurred from the export of unprocessed mineral commodities.
Several local companies have already adjusted their business plans to align with this vision, and President Tinubu called on others to follow suit.
Solid Mineral Development Minister, Mr. Dele Alake, affirmed the government’s commitment to ending the exportation of raw materials.
The transformation of the former Ministry of Mines and Steel Development into the Ministry of Solid Minerals and Steel Development is a testament to this commitment.
The President, represented by the Secretary to the Government of the Federation, Sen. George Akume, stressed the importance of harnessing the nation’s mineral wealth for industrialization.
This move aligns with global energy transition initiatives and has led to exciting discoveries, particularly in the form of extensive, high-grade lithium resources across numerous Nigerian states.
In conclusion, Nigeria’s pivot away from raw mineral exports marks a significant step towards economic empowerment, youth development, and resource value addition—a promising development in the nation’s mining industry.