Speaking at Mineral Workshop in Abuja, Minister of Mines and Steel Development, Olamilekan Adegbite explained that when enacted, it would offer entrepreneurs greater opportunities in the sector.
Noting that mineral supply chains were essential to the country, he maintained that they were witnessing increasing efforts to promote effective management through public-private platforms.
According to him, the raw minerals being exported from the country are used to produce consumer and industrial goods for sale in global markets at much higher prices than what is paid for the raw materials.
Adegbite explained that the export of raw natural resources was a legacy of colonialism, in which countries were precluded from developing their own processing capacities to supply raw materials.
“We have identified the missing link and have resolved to develop our downstream mineral value chain to address the gap by linking mining activities to the manufacturing sector of the economy,” he added.
e cited China and other Asian countries in Nigeria’s solid mineral sector, as having contributed little to the value chain, insisting that they took over mining with minimal roles for Nigeria’s firms.
