The era of export of crude minerals from Nigeria is gone – President Tinubu

President Bola Ahmed Tinubu has stated that the practice of exporting raw gold, lithium, and other minerals is now a thing of the past. He emphasized that his administration implemented a policy of adding value to mineral resources before exportation, aiming to curb significant losses associated with the export of unprocessed mineral commodities.

Represented by Sen. George Akume, the Secretary to the Government of the Federation (SGF), President Tinubu expressed these views during the eighth edition of the Nigerian Mining Week, organized by the Miners Association of Nigeria (MAN) in Abuja on October 17. The event was hosted at the International Conference Centre (ICC) by the Ministry of Solid Mineral Development, headed by Mr. Dele Alake, who affirmed that the era of exporting raw materials is drawing to a close.

The president said: “This administration has hit the ground running with remodeling the former Ministry of Mines and Steel Development into the ministry of Solid Minerals development and Ministry of steel developments, the orders to demonstrate the resolve of the federal government to maximise the potentials of the mining industry significantly improves its contribution to the revenue of government.

“The present administration has observed the huge losses recorded by the nation through the exports of crude mineral commodities and therefore has evolved a policy of value addition to its mineral resources before exportation, the policy will ensure that the teaming youths in the country will also be meaningfully absorbed in economic benches that will empower them while developing their skills.

“Through this policy, the era of export of crude minerals from Nigeria is gone. It is gratifying to note that many companies in Nigeria have already adjusted their business plans to this new normal and we hope others are encouraged to do same

“We are determined to use every potential to industrialised this great country. There is no reason why Nigeria and Africa should not be leading in any of the critical mineral value chains.

“The recent global trends in the energy transition initiatives have led to stunning discoveries which has opened Nigeria to geological exploration works that have grown the availability of huge lithium resources of high grade across many states in Nigeria.”