NEITI Urges Urgent Reforms in Nigeria's Solid Minerals Sector for Economic Growth
The Nigeria Extractive Industries Transparency Initiative (NEITI) has called for urgent reforms in the solid minerals sector, which currently contributes less than 1% to the GDP. NEITI's latest audit revealed that the sector's revenue was only $1 billion in 2023, representing a mere fraction of the GDP.
NEITI emphasized the need for bold actions to tap into the global demand for minerals like lithium, cobalt, and nickel. The Executive Secretary of NEITI, Ogbonnaya Orji, highlighted the potential of the sector to attract investments, generate revenue, and create quality jobs, especially for youth and women.
The organization warned that failing to reform the sector promptly could lead to missed opportunities for Nigeria's economic prosperity.
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