Nigeria’s Solid Minerals Deposit Estimated at $700BN, Says Alake

Minister of Solid Minerals Development, Dele Alake, has said that Nigeria’s mineral deposit is estimated at $700 billion. He said the estimate was based on available geo-data. He, however, said that Nigeria’s mineral deposit estimates may span into trillions of dollars if the scope of geo-data is expanded to cover the entire country.

He spoke in Abuja during the commissioning of the National Seismic Monitoring station-5 Katampe, organised by his Ministry through the National Geological Survey Agency (NGSA). He said: “Infact at the last estimate by a foreign institution, based on the limited geo data available, it is estimated that we have over $700 billion worth of minerals under our soil. And that’s just the limited data available.

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