{"id":200772,"date":"2022-07-02T14:00:10","date_gmt":"2022-07-02T13:00:10","guid":{"rendered":"https:\/\/www.withinnigeria.com\/news\/?p=200772"},"modified":"2022-07-02T14:00:10","modified_gmt":"2022-07-02T13:00:10","slug":"minister-nigeria-suffering-from-under-utilisation-of-mineral-resources","status":"publish","type":"post","link":"https:\/\/www.withinnigeria.com\/news\/2022\/07\/02\/minister-nigeria-suffering-from-under-utilisation-of-mineral-resources\/","title":{"rendered":"Minister: Nigeria suffering from under-utilisation of mineral resources"},"content":{"rendered":"<p>Olamilekan Adegbite, the Minister of Mines and Steel Development has stated that Nigeria and other African countries suffer from the under-utilisation of mineral resources despite huge deposits.<\/p>\n<p>This was made known by\u00a0Adegbite, represented by the Director-General, Nigerian Mining Cadastre Office, Obadiah Nkom at the first International Conference and Exhibitions of the Nigerian Society of Economic Geologists in Abuja.<\/p>\n<p>The minister said, \u201cUndeniably, Nigeria\u2019s Minerals sector offers robust economic potential for diversification of the nation\u2019s economy yet the country and indeed, many other African countries have continued to suffer under-utilisation of their <a href=\"https:\/\/www.withinnigeria.com\/news\/2022\/01\/13\/katsina-govt-bans-illegal-mining-of-mineral-resources\/\">mineral resources<\/a>.<\/p>\n<p>\u201cThis has accounted for the slow phase of socio-economic development in Nigeria and many African countries. Our country is known to operate a mono-economy where oil accounts for almost 90% of the foreign exchange earnings.\u201d<\/p>\n<p>He also noted that insufficient geoscientific data and geological knowledge, weak implementation and enforcement of mining laws and regulations have been critical constraints to the mining sector\u2019s development.<\/p>\n<p>He said the existing gaps propelled the ministry to immediately begin the process of preparing a detailed sector road map aimed at advancing certain strategic objectives.<\/p>\n<p>The minister added that the process, would eventually result in the creation of a globally competitive sector, capable of contributing to wealth creation, jobs, among others.<\/p>\n<p>Adegbite further stressed the role of the private sector as owners and operators of commercial mining entities and businesses.<\/p>\n<p>He called on geoscientists and stakeholders to support the government\u2019s policies and efforts in diversifying the nation\u2019s economy, using the mineral sector as one of the key drivers.<\/p>\n<p>The President, Nigerian Mining and Geosciences Society, Alabo Charles, said the Federal Government had identified mining and agriculture as viable options in its effort to diversify the nation\u2019s economy from dependence on oil and gas.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Olamilekan Adegbite, the Minister of Mines and Steel Development has stated that Nigeria and other African countries suffer from the under-utilisation of mineral resources despite huge deposits. This was made known by\u00a0Adegbite, represented by the Director-General, Nigerian Mining Cadastre Office, Obadiah Nkom at the first International Conference and Exhibitions of the Nigerian Society of Economic [&hellip;]<\/p>\n","protected":false},"author":17,"featured_media":170435,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"jnews-multi-image_gallery":[],"jnews_single_post":[],"jnews_primary_category":[],"jnews_override_bookmark_settings":[],"jnews_override_counter":[],"footnotes":""},"categories":[16587],"tags":[6079,41245,41244,2828],"class_list":["post-200772","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business","tag-mineral-resources","tag-nigerian-mining-cadastre-office","tag-obadiah-nkom","tag-olamilekan-adegbite"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.8 (Yoast SEO v27.8) - 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