By Obas Esiedesa, Abuja
The Nigeria Extractive Industries Transparency Initiative (NEITI) has called for urgent and comprehensive reforms in the solid minerals sector, warning that continued neglect will stall Nigeria’s economic diversification, revenue growth, and job creation.
In a statement signed by its Director of Communications and Stakeholders Management, Mrs. Obiageli Onuorah, NEITI described the sector as one of the country’s most underperforming industries. Despite Nigeria’s vast deposits of strategic minerals such as lithium, cobalt, and nickel — all in high global demand — the sector contributed only ₦401.87 billion in 2023, less than one percent of GDP.
“The time for lamentation is over. If we fail to act boldly and immediately, others will transform their mineral wealth into prosperity while Nigeria watches,” Executive Secretary of NEITI, Dr. Orji Ogbonnaya Orji, warned.
NEITI attributed the sector’s stagnation to decades of weak laws, illegal mining, smuggling, and neglect of host communities. It noted that without decisive reforms, Nigeria would continue to lose value to foreign markets while mineral-rich communities remain underdeveloped.
Highlighting the global transition to clean energy, Dr. Orji stressed that Nigeria’s minerals could prove even more valuable than oil. “The cost of inaction will not only be measured in lost revenues but also in missed opportunities for job creation, industrial growth, and community development,” he said.
He pledged that NEITI reports would no longer “sit on shelves,” but would serve as accountability tools to drive policy change and reform implementation.
The agency urged government and policymakers to legislate and enforce reforms that would unlock the sector’s full potential, turning Nigeria’s mineral wealth into a foundation for sustainable prosperity.
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