Source(https://www.masterbuilder.co.in)
Its time for Nigeria as a country to stop depending heavily on oil and tap into the vast natural resources God has blessed the land with.
The President has spoken on diversification which he said policies will be implemented to aid it. And as a result of the drop in oil price it was very necessary to diversify.
Due to the heavy reliance the Nigerian state has on oil many farmers have abandoned farming,saying it can no longer pay their bills or put food on their table. Most of them have relocated to cities seeking for greener pastures.
As at 2015 it was recorded by Economic Confidential that nigeria looses 50 trillion from untapped resources and 8 trillion from untapped gold alone. This estimate are income that would have been gotten from taxes,royalties,charges and fees which all tiers of government would have benefited from.This revenues would have been gotten from firms operating in solid minerals
Some states has as much as 22 natural resources Plateau is one of those states Nassarawa 21,Kaduna 19 and Sokoto 12 just to mention a few
Many nations that are top dogs economically dont have as much resources buried in Nigeria.They get income through Information technology, farming and tourism.
Apart from the resources that have been tapped there are so many untapped resources and i will talk about a few.
Source(https://i1.wp.com/economicconfidential.com)
Coal
Coal is one of the greatest resources found in Nigeria which the nation has failed to explore.its one of the oldest form of fuel as we all know. According to Economic confidential over 50 million tonnes have not been tapped.
Some of the location you can find coal in Nigeria are Nnewi, Benue, Ogwashi,Asaba,Niger,Umuahia,Adiase-Uti ,Oriu, Magbiigliba in Delta state.
Gold
Gold is a popular mineral all over the world,when properly harnessed Gold can yield a high level of income which can affect the Nigerian economy positively. Gold mining in Nigeria is of a small scale with little or no effect on the economy. Gold can be found in Edo, Bauchi, Ebonyi, Edo, Kaduna,Kebbi,Abuja,Niger and Zamfara.
Uranium
The Nigeria Uranium Mining Company (NUMCO) was dissolved 1996 and since then Government has failed in exploring this mineral. Uranium is one of the natural resources in Nigeria, it is a predominant mineral that can be found in Africa, and while some countries like South Africa, Namibia and even Niger have been into the proper mining of this mineral, it has remained untapped in Nigeria.
Deposits are available in locations such as Cross River, Adamawa, Taraba, Plateau, Bauch and Kano states.
Koalin
Kaolin is an aspect of the industrial minerals available in commercial quantity in Nigeria. There are estimate of about 2 billion
metric tonnes of kaolin deposits found in different parts of the nation particularly Edo, Ogun, Nasarawa and Plateau states.
Kaolin or China clay has a texture of a soft powder and whitish in colour, it is a rock which is rich in kaolinite which implies that kaolinite is the principal mineral consistent Kaolin. It has a melting point of 1750 °C and is a clay mineral, part of the group of industrial minerals.
Uses of Kaolin
It is used in the manufacture of ceramic.
Is widely used in the making of paper, rubber, paint, and many other products.
It is used in white incandescent light bulbs as a light diffusing material.
It is Used for modifying the properties of rubber upon vulcanization.
In agriculture, it is used to prevent sun scald for apple, and also to prevent insects from crops when used as a spray.
It is also used in the treatment of wastewater and water as an adsorbents.
In diagnostic procedures, Kaolin is used to induce blood clotting.
Columbite
Columbite, being a black mineral group, an ore of niobium, has a sub-metallic luster and a high density, a niobate of iron and manganese. It is used as an alloy of steel to form welder-able high speed steel for radio transmitting valves and heat sensitive detectivedevices. Analysts place the return on Investment (ROI) on columbite ore at 10-15%. It is mostly found in Plateau, Kano, Kaduna, Bauchi, Kogi and Nassarawa states.
Marble
Marble is other natural resource that has the capacity to create employment for millions of Nigerians. It is common in Nigeria and mostly used for sculpture and building. It is found in the FCT, Delta, Kogi, Kwara, Oyo, Plateau, and Rivers states.
Diversification is the way forward for this great country.God bless Nigeria.
Sources :Ventures, Economicconfidential.com,Finelib.com
