Nigerian mining’s GDP contribution seen increasing sixfold to 3%, cautious optimism takes hold in SA

With investors continuously scouring worldwide for new opportunities and countries scrutinised for their investment attractiveness and monitored in terms of economic growth, currently, new light has been cast on the re-emerging and growing Nigerian mining sector, while South Africa’s mining industry remains under hopeful scrutiny as there are signs that regulatory uncertainty will be positively addressed. While oil and gas have been known to dominate the Nigerian economy, the country is “a fast-evolving mining jurisdiction,” stresses PwC Nigeria advisory partner and mining leader Cyril Azobu, who states that, if the right steps are taken and the current momentum sustained, the country’s solid minerals sector can contribute up to 3% of gross domestic product (GDP) by 2025, as predicted in the ‘Roadmap for the Growth and Development of the Nigerian Mining Industry’.