Nigeria's Mining Sector Sees Surge in GDP Contribution to 4.61%, Driven by Innovative Policies

The Nigerian government revealed a significant increase in the mining sector's contribution to the country's GDP, rising from 0.5% to 4.61%. Dr. Oladel Alak, the Minister of Solid Minerals Development, announced this growth during a pre-event press briefing ahead of the 10th edition of Nigeria Mining Week in Abuja.

The sector's growth is attributed to innovative policies introduced by the current administration, aiming to quadruple earnings and further boost GDP contribution in the coming years. Dr. Alak also emphasized the sector's reform agenda resonating beyond Nigeria, with several African nations adopting similar value addition policies.

The government plans to address revenue leakages by introducing pre-shipment inspections for solid mineral exports.