The metals sector is a critical backbone of the industrialised value chain being an essential base material for significant sectors, such as construction, automobiles, electronics, shipbuilding etc. Though Nigeria is well endowed with metallic minerals, it is yet to fully exploit its potential for industrial development due to poor infrastructure for extracting, processing and transporting exploited minerals. The weak value chain is evident as steel processing operations are dependent on imported raw materials such as billets, semi-finished products etc. valued at $618 million in 2018.
In line with the Sector Roadmap and its targets, the Federal Government of Nigeria obtained credit from the International Development Association (IDA) to fund the Mineral Sector Support for Economic Diversification (MinDiver) Project which is aimed at implementing the Sector Roadmap and enhancing the mining sector’s contribution to the economy. The key focus of the MinDiver project is to:
- Establish a strong foundation for Mining Sector Development;
- Facilitate Downstream Sector Development and Enhance Competitiveness;
- and provide Project Management and Coordination