China Imports 68% Of Nigeria’s Solid Minerals In 2017 – NEITI

• China Imports 68% Of Nigeria’s Solid Minerals In 2017 – NEITI

The latest report from the Nigeria Extractive Industries Transparency Initiative (NEITI) has shown that China is Nigeria’s biggest importer of solid minerals in 2017.

Out of the N77.23 billion or 0.57 percent of total export of solid minerals in 2017, China accounted for 68 percent, according to the report obtained on Wednesday, in Abuja.

Other countries that imported the nation’s solid mineral during the year under review include Malaysia, Vietnam and India.

NEITI’s report further revealed that the solid minerals that were exported between 2015 and 2017 were worth N90.33 billion.

Giving a breakdown of the amount; N1.94 billion was exported in 2015, It rose in 2016 to N11.16 billion, but 2017 witnessed more significant increase, as the export rose to N77.23 billion (as mentioned earlier).

About 16.34 million metric tonnes of minerals valued at $29.90 million were exported in 2017, the report added.

It also stated that the sector’s contribution to employment in 2017 was about 0.3 percent of Nigeria’s total employment, same as the figure recorded in 2016.

NEITI had said the Nigerian Government realised N52.75 billion from solid minerals in 2017, an increase of 21 percent against the year before (2016).

Going by the figures presented by NEITI, it can be concluded that the solid minerals sector is steadily contributing to the federation’s export earnings.