The Minister of Solid Minerals Development, Dele Alake, disclosed on Monday that Nigeria currently possesses a deposit of mineral products worth $750 billion.

The minister revealed this at a two-day national stakeholders’ roundtable on sustainable development of the mining industry organised by the National Institute for Policy and Strategic Studies with the theme “Sustainable Development of the Mining Industry in Nigeria” in Abuja.

Alake, who noted that the government is working to ensure the country becomes an investor’s destination in solid minerals development, revealed that preliminary reports by a German firm, GeoScan, indicated that the nation is blessed with minerals worth a conservative amount of $750 billion.

The summit, held in partnership with Bruit Costaud, was to brainstorm possible solutions to the issues faced in the mining sector.

Speaking, Alake said the mining sector has the potential to contribute a large part of the nation’s goal of achieving a trillion-dollar economy, as pushed by the current administration.

He said this is the reason for the insistence on pursuing local value addition in products mined in the country. He, however, said the availability of data is important to attract investors that will establish plants in Nigeria to process the minerals and create a multiplier effect on job creation and growth in the economy.