Veriv Africa, a research and advisory company, has called for coordinated strategies to bridge existing gaps in Nigeria’s mining industry and strengthen investor confidence in the sector.
The company made the call following the release of its white paper titled “Mining the Storm: An In-depth Look into Nigeria’s Mining Sector”, presented in Abuja.
The report revealed that despite Nigeria’s vast mineral wealth, the mining sector’s contribution to the Gross Domestic Product (GDP) remains below one per cent—far less than its performance in the 1960s and 1970s.
It provided an in-depth analysis of the country’s evolving mining landscape and its potential role in driving economic diversification and energy transition goals.
According to the report, the global shift towards green energy has increased demand for critical minerals such as lithium, gold, and nickel, positioning Nigeria as a potential growth hub—if structural and regulatory challenges are properly addressed.
The white paper also identified investment opportunities in mining data acquisition, bespoke mining finance, equipment leasing, logistics, and value-chain processing for minerals like lithium and gold.
It examined existing regulatory frameworks, including the Nigerian Minerals and Mining Act (2007) and the Mining Regulations (2011).
Victor Igono, Senior Research Associate at Veriv Africa, said the mining sector is “sitting on a wealth of opportunity,” but lacks a coordinated strategy to bridge data gaps, build investor confidence, and unlock financing across the value chain.
“With the right reforms, the sector could once again become a cornerstone of national growth,” he said.
Igono commended recent government efforts such as the establishment of the Solid Minerals Development Fund, the Nigerian Solid Minerals Corporation, and the Mining Marshals Unit, but stressed the need for effective implementation.
He noted that the industry still faces challenges including inadequate geological data, regulatory uncertainty, insecurity, and limited funding.
“To overcome these challenges, Nigeria needs enhanced geological mapping and data sharing, stronger environmental and governance standards, mining finance instruments, formalization of artisanal operations, and improved security coordination,” he added.
Igono reaffirmed Veriv Africa’s commitment to providing actionable insights and advisory support across Africa’s critical sectors, including energy, infrastructure, and mining.
“Veriv Africa is dedicated to leveraging data, technology, and domain expertise to transform information into actionable intelligence,” he said.
