Nigeria’s Mining Sector Largely Underdeveloped – Minister

Minister of Mines and Steel Development, Olamilekan Adegbite, has said that Nigeria’s mineral and mining sector is still largely underdeveloped with the country attracting only 0.12 out of the five percent share of exploration investment in mineral resources in West Africa.

Adegbite spoke in Abeokuta, Ogun State on Thursday at the opening ceremony of the 19th Annual General Meeting and International Conference of the Nigerian Society of Mining Engineers (NSME). The conference has as its theme ‘Development of Mineral Resources: A Panacea for Economic Diversification’.

The minister, who was represented by Obadiah Simon Nkom, Director General of the Nigerian Mining Cadastre Office, expressed the federal government’s determination to “win the economy from its addiction to crude oil”, and diversify into other sectors.

In his address, National President of the society, Dr. Ebenezer Damisa, reiterated the call on the government to urgently resuscitate the moribund Ajaokuta Steel company and the National Iron Ore Mining Company (NIOMCO) in Kogi State to further boost the country’s economy.