President Bola Ahmed Tinubu has affirmed Nigerians that the era of exporting raw gold, lithium and other minerals is gone for good.
This was disclosed in Abuja on the second day of the eighth edition of the Nigerian Mining Week which was organized by the Miners Association of Nigeria.
The President stated that the creation of the policy of value addition to mineral resources before exportation by his administration was to halt the huge losses recorded through the exports of unprocessed mineral commodities.
“The present administration has observed the huge losses recorded by the nation through the exports of crude mineral commodities and therefore has evolved a policy of value addition to its mineral resources before exportation; the policy will ensure that the teaming youths in the country will also be meaningfully absorbed in economic benches that will empower them while developing their skills.
In his remark, Solid Mineral Development Minister, Mr. Dele Alake, whose ministry hosted the event at the International Conference Centre (ICC) noted that exportation of raw materials is coming to an end, urging local companies to adjust their business plans to the new normal.
“The recent global trends in the energy transition initiatives have led to stunning discoveries which has opened Nigeria to geological exploration works that have grown the availability of huge lithium resources of high grade across many states in Nigeria.”