The Executive Secretary of the Nigeria Industries Transparency Initiative (NEITI), Dr. Orji Ogbonnaya Orji has advocated the implementation of the agency’s recently released audit report on solid minerals to unlock the full potential of the sector.
Dr. Orji who spoke on Tuesday at the Opening Session of Nigeria Mining Week holding in Abuja, said the report highlighted several critical steps to unlock the full potential of the solid minerals sector.
He listed some of the steps highlighted by the report to include, introducing a comprehensive executive bill on Solid minerals sector reforms that addresses the huge gaps in 2007 Solid minerals act, strengthening regulatory frameworks and inter-agency collaboration, enhancing data transparency for informed decision-making, encouraging private sector participation through targeted reforms, investing in infrastructure and local capacity development.
The NEITI boss said that by addressing these priority areas, the mining industry could play a transformative role in boosting Nigeria’s revenue base, reducing unemployment, and attracting foreign direct investment.
He said, the findings from NEITI’s recently released 2023 Solid Minerals Audit Report underscore the sector’s potential and its incremental progress, adding that over the 16 audit cycles spanning 2007 to 2023, the solid minerals sector has contributed a cumulative ₦1.137 trillion (approximately $3.86 billion) in direct payments to government revenues.
He noted that government receipts rose from ₦7.59 billion in 2007 to ₦345.40 billion in 2022 and ₦401.87billion in 2023, indicating a 46-fold rise in the solid minerals sector growth, highlighting the sector’s growth trajectory and reporting compliance.
Dr. Orji said, in 2023, Nigeria’s solid minerals production reached an impressive 95.07 million tonnes, generating ₦9.01 billion in royalties, adding that export volumes also rose to 4.32 million metric tonnes, valued at ₦117.29 billion, signalling the sector’s expanding footprint in international markets.
He, however, noted that despite these achievements, the sector’s contribution to GDP remains modest.
“In 2022, it accounted for ₦1.66 trillion—or 0.83%—of Nigeria’s GDP of ₦202.36 trillion. This improved slightly to ₦1.76 trillion—or 0.75%—in 2023. These figures reflect untapped opportunities that, if harnessed, could transform the sector into a cornerstone of Nigeria’s economic diversification strategy,” he said.
According to him, the data presented in the latest reports provides a clear roadmap for action.
While stating that NEITI remains committed to leveraging the EITI framework to foster transparency, curb illicit financial flows, and promote sustainable resource management, the Executive Secretary noted that translating potential into progress requires a united effort from all stakeholders—government, industry leaders, civil society, and development partners.
“Together, we must prioritize infrastructure development, foster innovation, and create an enabling environment for investment. Through collaboration, we can build a mining sector that not only contributes significantly to national revenue but also positions Nigeria as a leader on the global mining map.
“As we engage in discussions during this Mining Week, let us reaffirm our collective commitment to advancing the mining sector’s growth. Together, we can create a legacy of economic transformation, sustainable development, and shared prosperity for Nigeria,” Dr. Orji said.
He maintained that the theme of the event -“Building the Mining Sector to Become a Cornerstone of Nigeria’s Economy”—resonates profoundly with NEITI’s mission to ensure transparency, accountability, and good governance in Nigeria’s extractive industries.
