There is no doubt that the mining industry in Nigeria has the potential to grow the nation’s economy in such a way that most sectors cannot. In the past, the industry has experienced a boom in both mineral exploration and mining activities. During those period, several solid minerals were been developed to various stages of exploration, which in turn resulted to increase of the country’s gold production from less that 1% per annum in 1998 to about 50 tons in 2008, thereby making Nigeria one of the largest producers of metals in Africa.
Yet, while the country continues to record impressive success in attracting investments, the minerals and mining sector has continued to face major challenges, which can be categorized into project funding and infrastructural imbalance within the Nigeria, particularly, inadequate electricity supply, no good access roads to sites of mineral deposits, illegal mining and community challenges, etc.
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