• June 14, 2021

Nigeria Has Produced 1.6m Grams Of Gold In 5 Years – Minister


=== (AGENDAWATCHDOG) === According to Dr Ochechukwu Ogah, Minister of State, Ministry of Mines and Steel Development (MMSD), his ministry recorded 1,562,720 grams of Gold production between 2016 and 2020.

The minister made this known during the recent 2021 Annual Public Lecture organised by the Nigerian Society of Engineers (NSE), Bwari branch, in collaboration with MMSD, With the theme “Economic Diversification in the Post COVID-19 Era: Special focus on the Sustainable Development of Nigeria’s Coal and Gold”, held in Abuja, the seat of power.

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According to Ogah, the ministry recorded 30,112.24 grams gold production in 2016 with 17,458.22 grams in 2017 and 64,000.05 grams in 2018, and 162,742.53 grams in 2019 and 1, 288,407 in 2020 to bring the total production to 1,562,720.04 grams.

Speaking further, Ogah said that Nigeria’s gold reserve was estimated to be over a million ounces in Osun where detailed exploration and reserves checks were done, adding that the impact of COVID-19 was most felt by both small and big mining operators, making it difficult for  mining and quarry companies to produce and sell mineral commodities to generate income among others.

PROJECTED IMPACT: Nigeria can use the gold produced to boost its foreign reserve as it is endowed with an abundance of the solid mineral which could help to manage the effect of devaluation of its currency. In all, Nigeria’s gold resources could contribute immensely to her economic diversification with more contributions and efforts from stakeholders.


Agenda Watchdog

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