Nigeria exports gemstones worth $3bill yearly says Saraki

Minister of State for Mines and Steel Development, Gbemisola Saraki, said gemstones worth $3 billion are exported yearly from Nigeria but with low-revenue benefit returns.

Saraki disclosed this in Abuja, at the graduation ceremony of the second batch of the master Gemstone, Jewellery making and design training. She said the ministry would transform Nigeria from the consumer of foreign jewellery products to high-quality local jewellery producers to save the country of huge foreign exchange expended on jewellery imports.

She explained that Nigeria with it large population has a huge,insatiable appetite for jewellery and that it is imperative to create a local industry that would substantially meet local demand and create jobs.

“It is also a known fact that Nigeria is abundantly blessed with several varieties of mineral resources. Among the minerals identified are varieties of precious and semi-precious gemstones.

“Some of the most popular Nigerian gemstones include Sapphire, Aquamarine, Beryl, Emerald, Tourmaline, Ruby, Garnet, Amethyst and Zircon, which are located across the Country. But, sadly, they are illegally exported out of the country in raw forms.

“We all know that the value of a gemstone increases when it is cut and polished, however, the majority of gemstones mined in Nigeria are being exported without any value addition since the technical know-how and machinery required in cutting, polishing and finishing jewelry are generally lacking in the country.”

The Director of Artisanal and Small-Scale Mining, Patrick Ojeka, urged graduates of the programme to show determination in the skills they acquired for the development of the downstream sector.