Days of exporting raw gold, lithium, others are over, says President Tinubu

Raw gold, lithium, and other resource exports are no longer viable, according to President Bola Ahmed Tinubu.

The Nigerian leader encouraged other businesses to follow the lead of the ones in his country that had adapted to the new circumstances.

The President explained that his administration’s strategy of adding value to mineral resources before exporting it was developed to put an end to the massive losses seen from the export of raw mining commodities.

On the second day of the Miners Association of Nigeria’s seventh annual Nigerian Mining Week, he delivered a speech in the capital city of Abuja.

An end to raw material exports is in sight, according to Mr. Dele Alake, minister of solid mineral development, whose ministry co-hosted the event at the International Conference Centre (ICC).

Sen. George Akume, speaking on behalf of the President as SGF, renamed the Ministry of Mines and Steel Development to the Ministry of Solid Minerals and Steel Development.

“The current administration has seen the huge losses recorded by the nation through the export of crude mineral commodities, and as a result 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.

The days of Nigerian crude resource exports are over thanks to this strategy. The fact that so many Nigerian businesses have adapted to the new normal gives us hope that others will follow suit.

We will not rest until we have exhausted all options for industrialising this magnificent nation. Africa and Nigeria should be at the forefront of any and all essential mineral value chains.

A number of states in Nigeria now have access to vast quantities of high-quality lithium because to recent worldwide trends in energy transformation projects opening the country to geological investigation.