Nigerian United States-based geologist and founder of Vdrills Services, Chinedu Okolo, has urged the Nigerian government to leverage the potential of the solid mineral sector and mining industry to develop the country.
Okolo, who is an environmental specialist, said this on Saturday through a communique to the press while commenting on the demerits of over-dependency on petroleum and also on how the solid mineral sector can contribute to the growth of the economy and the Gross Domestic Product (GDP) of the country.
Okolo stated that the oil market is volatile and its global demand is projected to decline due to climate policies, especially now that the global energy transition is shifting investment away from fossil fuels.
In light of this, he emphasised that solid minerals offer a viable and sustainable alternative that can support long-term economic stability, adding, “From gold in Zamfara, lithium in Benue and Nasarawa, lead and zinc in Ebonyi and Kaduna, etc., Nigeria is blessed. At this point in the country’s development, this is the right time to invest in mineral wealth.”
The geologist said that some of these solid minerals, which Nigeria has in economic quantity and quality, can match the economic value of oil and gas, adding, “With the rise of electric vehicles and energy storage systems, lithium could rival oil in the future. Similarly, Nigeria’s bitumen reserves are among the largest in Africa, yet largely undeveloped.”
He revealed that countries like Botswana (diamond), Chile (copper), and Australia (iron ore and lithium) rely heavily on solid minerals. He urged Nigeria to learn from Botswana’s transparent revenue management and Chile’s investment in value-added processing, adding that these countries have stable regulatory environments and reinvest their mineral revenue into national development.
“With proper mapping, regulation, and infrastructure, Nigeria’s mineral exports could contribute just as much to the GDP as agriculture or petroleum does. The multiplier effect is also significant — creating jobs, boosting local economies, and attracting downstream processing industries,” he said.
Okolo identified one of the major threats to the development of the mineral sector to be illegal mining, which he said thrives where regulation is weak.
To curb illegal mining and environmental challenges associated with it, he advised the government to formalise artisanal mining, offer cooperatives, and enforce compliance through monitoring and sanctions. He recommended environmental education and community partnerships to reduce destructive practices and the deployment of technologies like remote sensing and satellite monitoring to detect and control illegal mining activities across the country.
He stressed that geologists are central to mineral identification, mapping, and sustainable extraction. On this note, he urged the government to invest in geological institutions, training programmes, mining academies, surveying, data digitisation, and mapping.
“Investors want to see reliable resource estimates, legal protection, and streamlined processes. Most importantly, the government must fight corruption and illegal mining activities, which discourage serious investors,” he said.
He added that for the solid mineral sector to grow and be sustainable, a substantial amount of the revenue generated from it should be reinvested in infrastructure, education, and environmental management to support future exploration and innovation.
“Transparency in spending will ensure the benefits reach all Nigerians,” he said.
