Wednesday 15 November 2017

Can solid minerals earn Nigeria a decent foreign income?

There had been so much talk about diversifying the Nigerian economy since crude oil prices had fallen drastically in the international market. This development has affected the economy and brought untold hardship on the citizenry. One of the ways the present day government is looking at to diversify the economy is through solid mineral exploration. This is why the ministry of solid minerals has been on its toes, working tirelessly to come out with a solid mineral that can serve as replacement for crude oil.
Can this really work? These solid minerals are they really in abundance? Abundant enough to satisfy us as well as as the international market. Remember, crude oil is found in the Niger delta which is almost an entire region comprising of Eight states namely Ondo, Edo, Delta, Bayelsa, Rivers, Akwa-ibom, Cross river and Abia states. In these states, crude oil is found both onshore and offshore.  Thus, it is abundant enough to cater for our energy needs as well as for exportation.
Solid minerals in the country are found in individual states. For instance, coal is found in Enugu, Tin in Jos plateau, Gold in Osun, salt in Nassarawa e.t.c. Non of these solid minerals expanse an entire region or Geo-political zone of the country. Only very few of them are really in abundance to earn foreign exchange.
Previous dispensations were aware of these solid minerals but never thought of exploring them because it would be futile effort. Let the truth be told! The only viable means of diversifying the economy is through agriculture.  

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