Nigerian Mining and Geosciences Society (NMGS) has frowned at the high exportation of raw materials from the country to international markets, saying no nation develops if her natural resources continue to be exported in raw form.
This assertion was made at the 55th conference of the association held in Enugu, Tuesday.
“Mass exportation of raw commodities to international markets must be reduced in favour of conversion to finished products,” Silas Dada said on behalf of the association.
According to Dada, such step will produce beneficiated minerals that meet the specifications of industries, thereby generating massive employment for Nigerians, which will eventually lead to wealth creation, economic growth and national development.
Chinedu Nebo, former minister of power, said exporting raw materials do not only impoverish a nation but also creates jobs for foreign countries.
“Exporting raw materials means Nigeria is exporting job creation to other nations while importing joblessness in the form of finished products,” he said.
The society calls for the resuscitation of the dead smelting companies in the country, such as Makeri Smelting Company, in order to boost local production.
One factor that is largely responsible for the large exportation of raw materials in the extractive industry is because artisanal miners who operate mainly on a low-skills base, and largely confined by illiteracy still largely occupy the industry, experts say.
In the early years, mining industry contributed significantly to the nation’s job creation. But such glory could be attained once more if the infrastructural deficits associated with mining are addressed, they say.
According to NMGS, for investors to venture into mining processing in Nigeria, power and transportation problems should require immediate attention as key to industrialisation in mining sector. Otherwise, Nigeria will continue exporting its raw materials.
“The current low level of infrastructure can hardly attract investments in mining nor attract turnkey industries,” Dada said.
Potential investors in mining industry in Nigeria need to have adequate geological information about solid minerals that exist in the country. Such information helps would-be investors to make informed business decision about the sector.
