Federal Government Projects Mining To Rival Oil’s Contribution To GDP In 10 Years

Federal Government Projects Mining To Rival Oil’s Contribution To GDP In 10 Years

The Nigerian government has envisioned a diversified Nigerian economy in which mining will contribute to the nation’s GDP as much as oil and gas by the next 10 years. President Bola Tinubu stated this on Tuesday in a keynote address at the opening of the 10th edition of Nigeria Mining Week 2025 in Abuja. Latest data showed that oil accounts for approximately 4.05 per cent of the country’s Gross Domestic Product (GDP) as of the second quarter of …

Reforms spark Nigeria's mining resurgence - Prime Progress NG

Before the oil boom of the 1970s, mining played a vital role in Nigeria’s economy. Around the 1960s, solid minerals contributed as much as 4–5% to the national GDP, providing significant employment in regions like Jos, Enugu and Nasarawa.  But this boom was only short-lived. By the early 2000s, mining’s contribution to the GDP had collapsed to less than 0.5%, thanks to decades of neglect, underinvestment, and regulatory chaos. Recent development…