Nigeria Lifts Ban on Mining Activities in Zamfara State
Nigeria has recently announced the lifting of a five-year ban on mining activities in Zamfara State, citing improved security conditions. The ban, which was put in place in 2019 due to rampant bandit attacks, had hindered the exploitation of the state’s abundant gold, lithium, and copper deposits. Mining Minister Dele Alake revealed that the security situation has significantly improved, allowing for the resumption of mining operations in the region.
Alake emphasized the vast natural resources present in Zamfara State and highlighted its potential to make a substantial contribution to the national revenue. While Nigeria’s economy has traditionally been heavily reliant on oil, the government has been actively seeking to diversify its revenue streams. Despite the mining sector currently accounting for less than 1% of the country’s GDP, there is a strong push to increase its role in the economy.
As part of efforts to attract investors to the mining sector, Nigeria has implemented a series of reforms. These include revoking unused mining licenses, restricting the export of raw minerals, and offering investors a 75% stake in a national mining company. These measures are aimed at stimulating investment in the sector and driving growth in the mining industry.
SOURCE: REUTERS
