Neiti confirms solid mineral sector earned n69 47bn in 2018

According to the Nigerian Extractive Industries Transparency Initiative (NEITI), the solid mineral sector in Nigeria earned a total of N69.47 billion in 2018. This is a significant increase from the N44.4 billion earned in 2017.

The NEITI report, which was released in 2020, revealed that the solid mineral sector contributed 0.3% to Nigeria's total GDP in 2018. The sector's revenue was mainly generated from the export of minerals such as iron ore, coal, and limestone.

The report also highlighted some challenges facing the solid mineral sector in Nigeria, including inadequate infrastructure, lack of transparency in the sector, and environmental concerns. Despite these challenges, the sector has the potential to contribute more significantly to Nigeria's economy if addressed.

Here are some key highlights from the NEITI report:

• Total revenue generated by the solid mineral sector in 2018: N69.47 billion
• Contribution of solid minerals to Nigeria's GDP in 2018: 0.3%
• Top minerals exported in 2018: iron ore, coal, and limestone
• Challenges facing the sector: inadequate infrastructure, lack of transparency, environmental concerns

Overall, the NEITI report provides valuable insights into the performance of Nigeria's solid mineral sector and highlights the need for reforms to unlock its potential.