Fayemi Targets 10% GDP From Nigeria’s Solid Minerals | Independent Newspapers Limited
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Fayemi Targets 10% GDP From Nigeria’s Solid Minerals

Posted: Nov 15, 2015 at 1:55 pm   /   by   /   comments (0)

By Yaqoub Popoola, Ado-Ekiti

The Minister of Solid Minerals, Dr Kayode Fayemi has hinted that the current government would ensure that Solid Minerals contributes not less than 10 percent of the nation’s Gross Domestic Products ( GDP).

Speaking in Isan Ekiti, Ekiti State on Sunday, the Minister said the, although the sector currently accounts for a lowly 0.06 of Nigeria’s GDP, the country has good prospect in solid minerals sector, having 44 key minerals in about 350 spots across the 36 States of the federation.

“Nigeria used to be centre of excellence in solid minerals, particularly in Tin and Coal since 1903, that was before the first World War.  When petrol came, we abandoned  production of these two minerals, but we have  come to realise our mistake,” he said, adding: “We have Coal in Enugu, Diamond in Nasarawa , Tin and Columbite in Plateau and many other States. There is no State without a mineral. So we have a lot of potentials to tap and this we shall achieve.”

The Minister said the poor management of the sector in the last 55 years of Nigeria’s Independence brought about its low contributions to the economy.

Speaking further, he said:  “President Buhari came into government with strong integrity. And we won’t allow the Integrity Quotient to reduce, so whoever is perpetrating illegality in the sector must start packing his load .

“We are ready to tackle the cartels in the sector and those who think they can continue will face the maximum wrath of the law.”

He said the Ministry is blessed with experts in Geophysics, Mineral Resources Management, Geology, Metallurgical and material Engineering, Mineral Engineering and other cognate fields that could enliven its prowess for economic development.