• Oil, gas contribute 92.70% as experts advocate local hands in mining
• MAN asks FG to align with Constitution for fairness 
Nigeria’s solid mineral sector has recorded significant export earnings, with a total value of lN456,875,116.31 (approximately $1.2 billion) in the first half of the year.
  
According to data from the Nigeria Customs Service (NCS), the breakdown shows significant fluctuations in monthly collections, with January reporting N87,560,07.58, February N58,152,545.18, March N82,449,494.98, April N63,253,458.15, May N92,771,615 and June N76,687,929.42.  
  
These figures indicate a robust performance in revenue generation amid economic challenges, reflecting ongoing efforts to bolster Nigeria’s economic framework.
  
According to the National Bureau of Statistics (NBS), the Mining and Quarrying sector includes crude petroleum and natural gas, coal mining, metal ore and quarrying. This sector grew nominally by -0.37 per cent (year-on-year) in Q2 2024.  
  
Metal ores exhibited the highest growth rate of all the sub-activities at 62.37 per cent, followed by crude petroleum and natural gas at 7.64 per cent. Petroleum and natural gas contributed majorly to the sector with 92.70 per cent. 
  
Comparing Q2 2024’s growth rate to that of Q1 2024, there was an increase of 6.74 per cent points and a decrease of 34.51 per cent points respectively. The mining and quarrying sector contributed 5.60 per cent to the overall Gross Domestic Product (GDP) in Q2 2024, lower than the contributions recorded in Q3 2023 at 6.58 per cent and lower than the previous quarter’s 7.86 per cent.  
  
In real terms, the mining and quarrying sector grew by 7.79 per cent (Y-o-Y) in Q2 2024. Compared to the same quarter of 2023 and the first quarter of 2024, it was higher by 19.95 per cent and 1.48 per cent points respectively. Quarter-on-quarter, the growth rate recorded was -9.87 per cent.  
  
The contribution of mining and quarrying to Real GDP in the quarter under review stood at 5.83 per cent, higher than the 5.58 per cent recorded in the corresponding quarter of 2023 and lower than the 6.47 per cent in Q12024.
 
In a chat with The Guardian, the National President, Miners Association of Nigeria (MAN), Dele Ayanleke, highlighted the sector’s significant revenue generation, reflecting improvements in both operational volume and transparency.  He emphasised the association’s role in attracting foreign investments, stating that partnerships were crucial for channelling funds into mining operations.
  
Ayanleke noted the need for governments to align with constitutional provisions to ensure that all revenue flows directly into financial accounts, allowing equitable access to national revenue entitlements. 
  
“We operate in the mining sector, which is generating significant revenue. This indicates an improvement in both the volume of operations and transparency.

We are facilitating more investments in the sector. A lot of us partner with foreign entities who can marshal enough funds into the sector. 
  
“The more the improvement in the investment, the more the operations and the more revenue generated. Also, from time, mining has already generated revenue. So, the improvement now might also come in terms of improved transparency and accountability in the sector. We are also trying as much as possible to assist in all the multiple controls in the sector,” he said.
  
The association advocates streamlined regulations, ensuring that the benefits of mining are realised and properly allocated across all stakeholders. In his remarks, the Secretary General, Association of Miners and Processors of Barite (AMABOP), Patrick Odiegwu, called for a strategic shift towards local sourcing of raw materials to bolster Nigeria’s mining and manufacturing sectors. 
  
He emphasised the need for manufacturers to prioritise using locally sourced barite and other materials, which would significantly enhance job creation, socio-economic development and infrastructure investment.
  
Odiegwu highlighted the urgent need for robust partnerships between the mining industry and local manufacturers, adding that “such collaborations would not only create jobs but also stimulate local economies and contribute positively to the nation’s GDP.”