Nigeria’s Mineral exports in 2017 visited China

The common fraction of Nigeria’s mineral exports in 2017 visited China, a recent report on solid minerals shows. The audit report by the Nigeria Extractive Industries Transparency Initiative (NEITI) conjointly showed that 3 of the twenty-six minerals exported in 2017 accounted for seventy-three .81 percent of total exports.

The 3 commodities are zinc ores and concentrate, Lead ores and concentrate, and silica Sands and Quartz. China was the major destination of Nigeria’s export during the year under review, followed by Malaysia and Vietnam.

While China accounted for 68 percent of the total export value throughout the year, Malaysia and Vietnam accounted for 6.5 percent and 4.4 percent severally. The total value of mineral exports, however, decreased by 26.95 percent in 2017 in comparison with 2016.

The large volume of export to China {may be|could also be|is also} based on demand but also based on the increasing trade and partnership between China and Nigeria. 

Nigeria has obtained 17 Chinese loans of about $6.5 billion to fund projects across sectors since 2002.

Limestone dominates

In terms of volume, limestone was the most produced and sold mineral in Nigeria during the year. Over 19.4 million tonnes of limestone were used/sold in Nigeria in 2017, attracting a market value of over N11.6 billion.

The mineral conjointly attracted over N583 million as payment for royalty and constituted 55 percent of Nigeria’s mineral production in the year under review.

Limestone, the major constituent in cement production, is found in substantial deposits across Nigeria. it's being exploited in some states, but some are still untouched or not discovered yet.

Amongst other things, limestone is crushed to produce a base for roads and can even be found in paper, paint, plastics, tiles and even dentifrice.

It is found in an exceedingly business deposit in Abia, Akwa Ibom, Anambra, Bauchi, Bayelsa, Benue, Borno, Edo, Enugu, Imo, Ogun, Ondo, and Sokoto states.

According to the report, limestone, granite combination, and soil accounted for eighty-five .72 percent of mineral production in Nigeria, with stone alone tributary concerning 55 percent.

Quarry in Nigeria may be a major subsector within the housing industry, it's wherever solid minerals area unit blasted or crushed for construction use. Asides pollution, production activities have a variety of effects like land degradation, pollution, and activity pollution that can cause health-related issues.

According to the planet Health Organisation estimate, seven million folks die untimely once a year from air pollution-related diseases, as well as strokes and heart conditions, disease and cancer.

“Many pollutants that harm health conjointly damage the setting and contribute to temperature change. These embody black carbon from diesel engines, preparation stoves, and waste combustion, and ground-level gas, that area unit harmful however area unit ephemeral within the atmosphere,” WHO said.

Also, the report disclosed that four out of the fifty-nine firms that paid royalties within the mining sector created a combined total of over N20 billion, out of the N32.78 billion created in 2017.

These firms created the majority of the whole production volume utilized in 2017 as they conjointly created over twenty-seven million tonnes, representing seventy seven.31 percent of the whole thirty-five .33 million tonnes created for the year.

The production worth of those firms accounted for over sixty percent of the whole worth of created minerals. The companies' area unit Dangote Cement Plc, Lafarge Cement Plc, CGC Nigeria restricted and Julius Berger Plc. 

Source: PREMIUM TIMES