The Nation Newspaper LCCI mulls special incentives to attract investors into solid minerals sector
The Lagos Chamber of Commerce and Industry said she is deeply concerned about the performance of the Nigerian solid mineral sector as it has recorded low performance in the last two quarters., frowned that the Mining & Quarrying sector contributed 4.47 percent to the overall GDP in the fourth quarter of 2023, lower than the contributions recorded in 2022 fourth quarter at 4.51percent and lower than the previous quarter at 8.32 percent.
She said: “All of these were planned to position the sector to contribute 3.0 percent to GDP by 2025. Reaching this goal would lead to Nigeria’s global competitiveness and industrialisation aligned with the African Mining Vision. Unfortunately with just a year away, little has been achieved regarding the sector.
She urged the government to review the mining industry strategy to attract mineral exploration investments, reignite mining project development, and accelerate new mineral discoveries. She advised the government to seek innovative ways of revitalising the Ajaokuta Steel Company Limited and the Nigerian Iron Ore and Mining Company .
“For the solid minerals sector, we should adopt an inclusive strategy on Artisanal and Small-Scale Mining aligned with development plans at all levels of government and linked to other national rural sector strategies.
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