The mining industry of Nigeria contributes merely 0.3% to the gross domestic product (GDP). This limited impact is largely due to the dominance of Nigeria’s Oil Resources, which overshadow the potential of its mineral wealth including Coal, Iron Ore, and Gold. The Federal Government owns rights to mineral resources and grant titles for exploration and mining. Mining regulation is managed by the Ministry of Solid Minerals Development. Thus, since 1999, continuous efforts have been ongoing to privatise and revitalise the sector, aiming at diversifying the economy.
Organised mining in Nigeria began in 1903, with the country once being a major producer of Tin, Columbite, and Coal. However, the discovery of oil in 1956 shifted the focus away from mineral extraction. The key minerals mined today include Coal, Lignite, Gold, Iron Ore, with significant deposits also found in Lithium, Columbite, Wolframite, and Bitumen. The Nigerian Mining Corporation, established in the 1980s, has struggled due to funding issues and competition from oil revenues. Recent reforms aim to boost mining activity and attract foreign investment.
This is the list of the key Mineral Resources mined in Nigeria:
- Coal.
- Gold.
- Lithium.
- Talc.
- Gypsum.
For additional details about the Mining Industry in Nigeria, red this article.
