Putting Nigeria on the growth path: Unlocking Potential of Neglected Solid Minerals

In Nigeria, mining is as old as farming activities. This is dated to the pre-colonial era where people engaged in it along with their various farming activities as an alternative source of livelihood, especially in most of the rich communities across the country. Official mining activities started between 1903 and 1923 with the commissioning of the minerals survey of the Southern Nigeria and Northern Nigeria Protectorates by the Royal Niger Company. With her over 400 solid minerals deposit and availability of 40 of them in commercial quantities, the country profited hundreds of million dollars between 1923 and 1960. The significant profits derived within the period was started shrinking in 1961 due to the discovery of crude oil in commercial quantity in the eastern region after the independence and government’s total neglect of the sector. In recent times, the dwindling crude oil price in the world market has created an adverse effect on the country’s revenues. The impact reached a significant proportion in 2015 when the federal government could not remit appropriate revenue allocation to the state governments. Read More