The Managing Director/Chief Executive, Nigeria Export Processing Zone Authority , Prof. Adesoji Adesugba, Wednesday stressed the need for the government to shift attention towards the immediate development of the solid minerals sector, adding that the gemstones/jewelry subsector alone has the potential to generate about $12 billion annually for the country.
He said the development of the sector would support President Muhammadu Buhari’s renewed vigour towards a holistic and coordinated exploration of mineral deposits for maximum contribution to the country’s Gross Domestic Product . Adesugba added that repositioning the gemstone sub-sector enhances the industrialisation of the country as well as conserve foreign exchange for the benefit of the economy.
The NEPZA boss further noted that the proposed special economic zone would ignite activities in the sector and create job opportunities for the teeming youth, while the government takes on revenues from the exploration of value added minerals. He said though the COVID-19 pandemic has affected the economic trajectories of nations, the only way out for the country is to think out of the box by establishing a special zone for solid minerals development.
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