Nigeria could eventually be forced to import minerals it currently extracts and exports if strategic deposits are not deliberately conserved, exploration geophysicists have warned. The caution comes as the Federal Government intensifies efforts to attract investment into the mining sector and reduce the export of raw ores.
The warning centres on the need to balance increased mineral production with long-term resource conservation. The Nigerian Association of Exploration Geophysicists said selected high-grade and strategic deposits should be protected for future industrial use rather than being depleted without a clear national conservation strategy.
The Federal Government is simultaneously working to build the foundations for a larger mining industry. Minister of Solid Minerals Development, Dele Alake, said efforts were being strengthened around geoscientific data, mineral exploration and professional capacity as the Government seeks to make mining a major pillar of economic diversification.
The stakes extend beyond today’s mining revenues. Without strategic conservation and domestic value addition, Nigeria could turn its mineral wealth into a temporary export opportunity and later become dependent on imports for resources it once possessed in abundance.
