Solid Minerals ‘ll Account For 10% Of Nigeria’s GDP In 2019- Fayemi | Independent Newspapers Limited
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Solid Minerals ‘ll Account For 10% Of Nigeria’s GDP In 2019- Fayemi

Posted: Nov 15, 2015 at 1:02 pm   /   by   /   comments (0)

Yaqoub Popoola

The Minister of Solid Minerals, Dr Kayode Fayemi, has hinted that the All Progressives Congress ( APC ) led Federal Government would ensure that solid minerals would account for  about 10 percent of the nation ‘s Gross Domestic Products ( GDP).
According to him, as at now ,the sector only contributed about 0.06 percen to the GDP.
Speaking in Isan Ekiti Sunday, the Minister said that the country has good
prospect in solid minerals sector, having 44 key minerals in about 350
spots across the 36 States of the federation.
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.
Fayemi disclosed that the solid minerals contributes 0.06 % to the
country’s Gross Domestic Products , stating that as much as he is not
making a projection,  that Buhari’s government is desirous  of raising
the benchmark to 5 -10 % before  2019.
“President Buhari came into government with strong integrity. And  we
won’t allow the Integrity Quotient to reduce, so whoever perpetrating
or  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.
“If you glean through what President Buhari said when he came into
power,  every comment is punctuated  with  preference for  Solid
minerals and Agriculture as areas of interest in his efforts to
diversify the economy. So Mr President has put me in his area of
interest and I thank him for reposing confidence in me”.
“The Ministry is blessed with experts in Geophysics, Mineral Resources Management, Geology, Metallurgical and material Engineering, Mineral Engineering and other cognate fields.
“Though, I may not be an expert in Mineral resources management, but
having superintended over every sector as a governor, I think I have
the experience. The task is not even about expertise,  but service. I
should be able to work with these experts to bring about the needed
change in the sector”.
“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 abandon  production of these two
minerals, but we have  come to realise our mistake.
“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”, Fayemi