HomeBase MetalsMining sector will contribute 20% to Nigerian GDP

Mining sector will contribute 20% to Nigerian GDP

Diezani Alison-
Madueke, Nigerian
minister of mines
and steel
Abuja, Nigeria — MININGREVIEW.COM — 12 October 2009 – The mining sector in Nigeria is set to contribute 20% to the country’s gross domestic product (GDP), following the granting of more than 2 000 mining licences to operators in the solid minerals sector.

Quoting the newspaper This Day, allAfrica.com reports that, according to minister of mines and steel development Diezani Alison-Madueke, solid minerals is one of the emerging critical sectors of the Nigerian economy.

Speaking at the 2009 ministerial press briefing in Abuja, Alison-Madueke, said: “As of the 31st August, 2009, a total of 8 179 applications/titles have been registered, while over 2 508 mineral applications have been granted. Of that number, 2 062 licences were issued."

The minister said that following her ministry’s participation in various international investment forums, several companies from the United States, South Africa, China, India and Canada had shown keen interest in investing in Nigeria.

“We have received a heightened volume of applications for mineral titles, and many companies have also sought partnerships,” she added.

The minister went on to say that over 600 applications had been received for registration as mining cooperatives, quarry associations and small-scale miners, out of which 234 had been registered.