NEITI Demands Urgent Overhaul To Unlock Nigeria’s Solid Minerals Wealth

By AUGUSTINA McSOLOMON-OGHAKPERUO

THE Nigeria Extractive Industries Transparency Initiative (NEITI) has unveiled an ambitious reform blueprint to reposition the country’s solid minerals sector as a cornerstone of economic diversification, job creation, and sustainable development.

Despite Nigeria’s vast deposits of gold, lithium, limestone, tin, and other strategic minerals, the industry has remained grossly underdeveloped. According to NEITI’s 2023 audit report, the sector generated ₦401.87 billion, contributing a mere 0.83% to the nation’s GDP—a figure experts say is far below its potential.

In an exclusive engagement with Daily Independent, NEITI’s Director of Communications and Stakeholders Management, Mrs. Obiageli Onuorah, attributed the poor performance to weak legislation, outdated governance structures, illegal mining, smuggling, and the neglect of host communities. These structural challenges, she warned, have left Nigeria lagging behind as global demand surges for minerals critical to the energy transition, such as lithium, cobalt, and nickel.

“The era of delay and excuses is over,” declared NEITI’s Executive Secretary, Dr. Orji Ogbonnaya Orji. “If Nigeria fails to act boldly and decisively, other nations will harness their mineral wealth to power their economies while we remain spectators.”

To reverse the trend, NEITI has proposed sweeping reforms, including:

• Passage of a new Solid Minerals Reform Act within 12 months.

• Establishment of a National Minerals Development Council, chaired by the Presidency, to coordinate policy.

• Launch of a Real-Time Mining Cadastre Portal to improve transparency in licensing.

• Introduction of Free, Prior and Informed Consent (FPIC) legislation to safeguard host communities.

• Expansion of the Solid Minerals Development Fund to finance local infrastructure such as roads, schools, and hospitals.

• Deployment of technology to combat smuggling and illegal mining.

• Promotion of local mineral processing and value addition, ensuring that wealth and jobs remain in Nigeria.

• Policies to guarantee youth and gender inclusion across the mining value chain.

NEITI also pledged to strengthen its oversight role by deploying independent audits, credible data, and multi-stakeholder monitoring to ensure that reforms translate into tangible benefits for mining communities.

“Our reports will no longer gather dust,” Dr. Orji affirmed. “They will drive accountability and genuine reforms, ensuring Nigeria’s mineral wealth translates into prosperity for its people.”

With Nigeria seeking alternatives to oil revenues, experts believe the reforms, if urgently implemented, could make the solid minerals sector a central pillar of the economy while fostering inclusive growth across communities.