Nigeria has lifted a five-year ban on mining activities in Zamfara State due to improved security conditions, the mining minister has announced. The suspension, imposed in 2019 due to rampant bandit attacks, had left the state’s abundant gold, lithium, and copper deposits untapped. However, the situation has improved thanks to the efforts of security operatives, according to Mining Minister Dele Alake. Additionally, Alake highlighted Zamfara’s extensive natural resources and underscored its potential to contribute significantly to national revenue. Nigeria’s economy is heavily reliant on oil but it has been making efforts to diversify. While the mining industry currently contributes less than 1% of the country’s GDP, the West African country wants it to play a bigger role. Consequently, it has introduced reforms to attract investors to the sector. These reforms include revoking unused licenses, reducing raw mineral exports, and granting investors a 75% stake in a national mining company.
SOURCE: REUTERS
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