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Nigeria’s Solid Mineral Deposit Worth Over $700bn – Minister

Nigeria’s Minister of solid minerals development, Mr. Dele Alake has said Nigeria’s solid mineral is valued at over $700billion and the country is well placed to meet the global demand for critical solid minerals.

Alake spoke on Wednesday on the sidelines of the ongoing United Nations General Assembly (UNGA) in New York.

The minister said despite being behind other African countries in mining, Nigeria’s mineral deposit is valued at over $700 billion with huge potential for increase.

Speaking through the deputy director of Press in the Ministry of Solid Minerals, Mr Alake said, “Nigeria is endowed with a vast deposit of minerals critical to our new world,”

“Nigeria is well-positioned to play an important role in our new world. Our solid mineral sector is valued at over USD$700bn and we know there is more to be discovered.”
“Endowed with critical minerals, Nigeria should not and dare I say, cannot be ignored.”
“In our new world, mobility requires a new form of energy driven by minerals in our new electric vehicle world.”

“Technology is more mineral-dependent, our energy source will depend more on the energy converted from the sun and other sources, and energy storage is even more mineral-reliant.”

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