Nigeria has 44 distinct minerals – Alake woos foreign investors

Dele Alake, the Minister of Solid Minerals Development, said Nigeria has 44 distinct minerals, urging investors to embrace the huge investment opportunities.

The minister made this statement at the Mines and Money Conference held in London on Tuesday, according to a statement signed by his special adviser, Kehinde Bamigbetan.

Alake, addressing global stakeholders in the mining industry, pitched for more investment in Nigeria, listing unique advantages such as lower production costs due to surface mining and billions of dollars in untapped minerals.

He said, “The country’s geological bounty encompasses over 44 distinct mineral types, found in exploitable quantities across more than 500 locations. Recently, recognizing the evolving global landscape and in response to emerging trends, Lithium has been included as a crucial strategic mineral of global consequence.”

He noted that foreign investment in Nigeria would create job opportunities, contributing to the nation’s gross domestic product.

“Nigeria is currently emphasizing Solid Minerals Beneficiation and Value-Addition as a panacea for quick and sustainable growth of the Mining Industry…By adding value to our raw materials, we create higher value products, generate employment opportunities for our teeming youth, and increase the sector’s overall profitability and contribution to the nation’s GDP”, he said.