Economy
Mining Has Potential To Transform The Nations Economy – Ogah
The Minister of State, Mines and Steel Development Dr. Uchechukwu Sampson Ogah has revealed that the enormous and abundant mineral resources spread across every part of the country, especially in Edo State, has potentials to transform the nation’s economy, develope infrastructure and grow the Gross Domestic Product (GDP) of the country.
He stated this when he paid a courtesy call on the Governor of Edo State, His Excellency, Godwin Obaseki on Thursday, 17th February, 2022 during a 3-day working visit to the State.
Dr. Ogah disclosed that the purpose of the 3-Day working visit to the State was critical and strategic in the development of the solid mineral sector as the state has many untapped minerals which, when properly harnessed will gavanize it to achieving its “30-year Development Roadmap” in the areas of “Human Capital Development and the vision of Edo State outside oil revenues; Educational transformation through Edo – BEST and Health Improvement Programme; Improved Service Delivery Systems, Tax and Revenue Collection reforms and Economic transformation initiatives through modern agriculture and industrialization of the State.
The Minister solicited the support and cooperation of the State Government in accelerating the development of the huge commercial deposits of major minerals like Limestone, Talc, Dolomite, Gypsum, Feldspar, Quartz, Gold, Gemstones, Bentonite, Bitumen, Sharp Sand, Kaolin, Granite etc and other solid mineral resources in abundance in the State. He noted that the state could rank as number 2 mining state in the country.
Dr. Ogah said the collaboration would increase revenue generation, promote sustainable growth of the minerals sector, creat employment opportunities for nation’s teeming unemployed youths as well as provide
economic empowerment for host mining communities, which would lead to reduction in poverty level of rural communities.
He noted that the present level of mining operations in the State could be doubled through mutual collaboration and cooperation between the Federal, State, Local Government and mining investors in the state. He therefore, urged the Governor to ensure that the new partnership between the Ministry and Edo State Government is sustained to promote sustainable development of mineral resources in Edo State.
In his remarks, the Governor of Edo State, His Excellency, Godwin Obaseki, stated that the visit couldn’t have come at a better time as the state is fully committed towards diversification. He said “Edo is a blessed naturally endowed state and we have taken our destiny in our hands to diversify, focusing on solid minerals”.
Governor Obaseki assured of the State’s readiness to collaborate on the development of the mineral sector in the state and implored the State be used a a model for Federal Government’s collaboration and coordination bid for the optimazation of revenue generation in the sector, adding that “Edo is willing to start afresh to get it right”.
In the same vain, Dr. Uchechukwu Sampson Ogah at a Stakeholders meeting held at the Edo State banquet hall, commended the operators for investing in the mining industry despite its high risks and creating job opportunities for many Nigerians. He however condemned in very strong terms the use of under-aged miners, saying, “under-aged miners are not allowed. Report under-aged and illegal miners to security agencies”.
Dr. Ogah, intimated the operators of government’s policy focus and enjoined them to make honest declaration of their monthly mineral production and pay correct amount of royalties due to the Federal Government. He encouraged operators to keep close contact with the Federal Mines Officers in the state and always seek clarification on any matter they are not clear from them.
Speaking, Edo State Commissioner, Ministry of Mining, Oil and Gas, Ethan Uzamere noted that the development of the mineral sector would bring strong economic benefits and peaceful coexistence to the people of Edo state. He disclosed that the State was planning a workshop for miners where all issues regarding challenges would be addressed.
The Chairman, Edo State Miners Association of Nigeria, Engr. Mike Okhumode, while enumerating the myriads of challenges they face in carrying out their daily operations, appealed to the Federal Government to extend the same intervention given to the agricultural sector to them.
Also, an operator and Coordinator of the State’s Women in Mining, Mrs. Uche Idodo, while reiterating the dangers of under-aged miners, called on the Federal government to come to their aid in the matter of double taxation.
From Hassan Taiye
The Federal Government of Nigeria, FGN, through the Ministry of Steel Development, has signed a Joint Strategic Cooperation Declaration with Stellar Steel Company Limited.
Stellar Steel Company Limited is a steel-manufacturing enterprise established to operate in Nigeria, with major investment backing from Chinese parent groups: Galaxy Group and RSIN Group based in Fuzhou, Fujian Province, China.
The company has committed approximately US$450 million for a steel plant project in Ogun State, Nigeria, scheduled to begin operations by mid-2026.
This landmark partnership is aimed at revitalising Nigeria’s steel industry and reducing the nation’s dependence on imported steel products, according to a statement signed by the the Principal Information Officer, PIO, Ijomah Opia, for the director, Information and Public Relations in the ministry.
The agreement, signed in Abuja, on Tuesday 28th October, 2025 will see Stellar Steel invest $400 million in the construction of a modern Steel Plant in Ewekoro, Ogun State. The project will be developed in three phases, with the first phase expected to begin production by 2026.
The Minister of Steel Development Prince Shuaibu Abubakar Audu signed the agreement when he hosted Mr Li, President of Inner Galaxy Group and other members of the Stellar Steel Company Limited in the Ministry’s Headquarters in Abuja.
According to Prince Audu, the collaboration aligns with the federal government’s goal of achieving 10 million tonnes of crude steel production per annum by 2030, a major step toward industrial self-reliance and economic diversification.
The minister further stated that the Federal Ministry of Steel Development would facilitate policy and infrastructure support, including inclusion of Stellar Steel’s logistics projects in the National Infrastructure Plan and access to available fiscal incentives.
Highlights of the cooperation includes the followings:
1.Development of a localised iron ore supply chain to reduce import dependence and save over $1 billion in foreign exchange annually.
- Creation of more than 2,000 direct and 20,000 indirect jobs across the steel value chain.
- Promotion of green steel production using clean and energy-efficient technologies.
- Strengthening of Nigeria’s position as a regional steel manufacturing hub in West Africa.
Audi also said that in return, Stellar Steel would prioritise local recruitment and training, partnering with Nigerian universities to build technical and managerial expertise in steel production.
Prince Shuaibu emphasised that this strategic cooperation marks a new era for Nigeria’s steel industry and demonstrates the government’s commitment to sustainable industrial growth and economic transformation.
In his remarks the leader of the delegation, Mr Li assured the minister that Stellar Steel would respect all agreements reached and would ensure the completion of the project in record time and assured that all safety standards will be observed.
Mr Li was accompanied during the visit by Mr You Xiastian, Vice Chairman of RSIN Group, Mr Jackie Den, Vice President of Inner Galaxy Group and Mr Yin, Director of RSIN Group.
He recalled that the Minister of Steel Development, Prince Audu, performed the groundbreaking ceremony of the Steel Plant in Ogun State sometime in April, 2025.
Speaking at the signing, representatives of both parties emphasised that the partnership would strengthen Nigeria’s industrial base, create jobs, and foster technology transfer in the sector.
From Hassan Taiye
A high-level delegation from the European Union (EU) Parliament’s Foreign Affairs Committee, led by Mr. David McAllister, paid a courtesy visit to the Nigerian Senate today October 28, 2025.
“We are here to deepen our understanding of the situation in West Africa and strengthen our partnership with Nigeria,” McAllister said.
Senate President Godswill Akpabio welcomed the delegation, emphasizing Nigeria’s strategic partnership with the EU. “Nigeria is committed to strengthening ties with the EU, highlighting areas of mutual interest, including security, trade, and governance,” Akpabio said.
The delegation, comprising Ambassador Greta Mylott, EU Ambassador to Nigeria and ECOWAS, Miss Zelaya Zorko, Miss Mata Tamido, Sebastian Tankman, General Christophe Gomart, and Sebastian Buharo, is undertaking a comprehensive tour of West Africa, with stops in Nigeria and Ghana.
During the visit, Akpabio shed light on the challenges facing female representation in Nigeria’s parliament. “Women often vote for male candidates, making it difficult for female candidates to win elections,” he noted.
“The Senate is exploring innovative solutions, including constitutional amendments, to boost female participation in the legislative process, with support from organizations like the Black Women’s Forum.”
The EU delegation’s visit aims to foster greater understanding and cooperation between the EU and Nigeria, addressing shared concerns, such as terrorism, climate change, and economic development.
“The EU is committed to supporting Nigeria’s development efforts,” McAllister assured the Senate, emphasizing the bloc’s interest in seeing a stable, prosperous, and democratic Nigeria.
Their visit also includes participation in the forthcoming International Islamic Conference on Security and Governance in West Africa and the Sahel, scheduled for November 4-6, 2025 at ECOWAS Commission.
Akpabio expressed optimism about the potential for enhanced cooperation, highlighting Nigeria’s readiness to work with the EU to address common challenges.
By: Fabian Apechihin
Agricultural stakeholders have raised alarm that Nigeria may be unable to rein in rising food inflation in the coming months due to mounting challenges facing the sector.
Speaking on the issue, a leading agronomist, Emiju, identified the high cost of farm inputs and scarcity of labour as key factors discouraging farmers, warning that these constraints could have serious implications for national food production and availability.
He advised farmers to adopt cooperative savings models or microfinance options to access funding for large-scale input purchases. According to him, such collaborative financial strategies would help smallholders cope with the escalating costs of seeds, fertilizers, and machinery.
Emiju further encouraged farmers to seek bulk purchasing arrangements, explore discount opportunities, and consider alternative, cost-effective inputs where possible. He also urged them to organise community labour-sharing initiatives and invest in mechanisation to cushion the impact of labour shortages and rising production costs.
Highlighting the importance of accurate data in addressing the crisis, he noted that robust agricultural data remains one of the most essential tools for evidence-based planning, monitoring, and policy formulation in Nigeria’s agricultural sector.
“It provides a realistic picture of production outcomes, farmer experiences, and sectoral constraints, upon which informed decisions and targeted interventions can be built,” he said.
He commended recent efforts to improve agricultural data quality, including the Farm Family Census, the Tractor Census, and complementary studies on commodity prices, describing them as steps toward greater transparency and excellence in agricultural performance reporting.
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