FEDERAL GOVERNMENT TARGETS N30TN MINING SECTOR THROUGH COMPREHENSIVE REFORMS

The Federal Government is setting its sights on growing the mining sector to a N30 trillion industry as part of sweeping reforms aimed at diversifying the economy and reducing dependence on oil revenue.

Senior government officials revealed that ongoing initiatives include updating licensing processes, strengthening regulatory frameworks, and promoting private sector investment in solid minerals exploration and development. The reforms also focus on improving infrastructure in mining communities and ensuring environmental sustainability.

Experts believe that with Nigeria’s vast untapped mineral resources, achieving the ambitious target is feasible if challenges such as illegal mining, insecurity, and inadequate geodata are effectively addressed. The government has pledged to create a more attractive investment climate through transparent policies and incentives.

Stakeholders welcomed the vision, noting that a thriving mining sector could generate substantial employment, boost export earnings, and support industrial growth through local raw material supply.

The administration assured that community engagement and responsible mining practices will be central to the reform agenda. Industry players are optimistic that the N30 trillion goal will position Nigeria as a major player in the global minerals market.