Nigeria is Replete with Untapped Mining Resources

But the country has largely failed to generate significant income from its vast natural resources – less than 1% of Nigeria’s GDP is contributed by its mining industry.Many intriguing projects never make it past the exploratory or feasibility stage due to the difficulty of obtaining funds for project design, development, and manufacturing. The lack of reliable geological data, a lack of enforceable regulations, community insecurity, and weak human capital, are all to blame for the lack of interest. However, Nigeria’s economic diversification has become more urgent, due to the unpredictable nature of oil prices.

AFRICAN BUSINESS