The Nigeria Extractive Industries Transparency Initiative, NEITI, has called for an end to policy paralysis, tasking the Nigerian government to legislate, implement, and deliver reforms that transform minerals from buried wealth to visible prosperity for all.

The agency warned that Nigeria’s solid minerals sector has underperformed despite its vast potential, stating that its latest audit revealed a revenue of ₦401.87 billion in 2023, which represents only 0.83% of the country’s GDP.

The Executive Secretary of NEITI, Orji Ogbonnaya Orji, said the poor performance is the result of weak laws, illegal mining, smuggling, outdated governance, and neglected host communities.

A statement signed by NEITI’s Director of Communications & Stakeholders Management, Obiageli Onuora, said Orji warned that such anomalies have kept the sector stagnant while global demand for green-energy minerals, lithium, cobalt and nickel surges.

”The time for lamentation is over. If we fail to act boldly and immediately, others will transform their mineral wealth into prosperity while Nigeria watches, warned Dr Orji.

”The transition to clean energy has made Nigeria’s mineral resources, from lithium to rare earths, more valuable than oil. With decisive reforms, the sector can attract billions in investment, generate massive revenues, create quality jobs (especially for youth and women), and bring visible development to host communities.

“Our reports will no longer sit on shelves; they will be powerful tools to hold both government and companies accountable and to drive real change,” Dr Orji said.

NEITI is has also tasked the federal government and National Assembly to pass the New Solid Minerals Reform Act within 12 months, creat a National Minerals Development Council chaired at the Presidency and launch a Real-Time Mining Cadastre Portal for transparent, digital licensing.

The agency also wants the government to embed Free, Prior & Informed Consent, FPIC, into law for host communities, strengthen the Solid Minerals Development Fund to finance schools, roads, and hospitals.

‘Deploy technology to curb smuggling and illegal mining, invest in local processing and value addition to retain wealth and jobs and guarantee gender and youth inclusion across the mining value chain.”

Nigeria’s solid minerals sector must be reformed now for gains – NEITI