Nigeria’s mineral resources can drive economic diversification, industrial development, job creation and increased government revenue if the country prioritises reliable geological data, responsible mining and local mineral processing, the Managing Director and Chief Executive Officer of Benue Geo-Mining Company Limited (BGMC), Dr Erdoo Mongol, has said.
Mongol made the call as Nigeria Mining Week 2026 commenced on Monday October 12 at Abuja Continental stressing the need to move beyond mineral exploration and extraction towards developing sustainable value chains capable of generating lasting economic benefits for the country.
She said unlocking Nigeria’s mineral wealth would require strategic exploration, improved geological information, responsible mining practices, local beneficiation and stronger connections between the mining industry and other sectors of the economy.
According to her, linking mining with manufacturing, technology, infrastructure and markets would enable Nigeria to derive greater value from its mineral resources while creating opportunities for industrial expansion and employment.
Mongol also urged state governments to take a more proactive approach to developing their mineral resources, noting that identifying mineral deposits alone would not guarantee economic prosperity.
“States need to develop bankable mining projects, attract credible investors, strengthen regulatory and institutional frameworks, and establish mineral value chains that would deliver measurable benefits to their populations,” Mongol said.
At the sub-national level, she noted that a well-developed mining industry could increase internally generated revenue, stimulate rural economies, create employment opportunities for young people and support sustainable livelihoods.
For Benue State, Mongol said mineral development presented an opportunity to complement its agricultural base, diversify the economy and attract fresh investment into the solid minerals sector.
She expressed the view that responsible mineral development could position the state as an emerging destination for mining investment while broadening its economic activities beyond agriculture.
The BGMC chief executive emphasised that the benefits of mining should extend beyond mineral extraction to include processing, manufacturing and other downstream activities that could create additional jobs and retain more economic value within the country.
Her position highlights the importance of local beneficiation, through which minerals are processed domestically before being sold or used as industrial inputs, rather than being exported primarily in their raw form.
Nigeria Mining Week, she added, provides an important platform for governments, investors, industry operators, researchers and host communities to strengthen collaboration and develop practical strategies for converting the country’s mineral potential into economic prosperity.
However, translating this potential into sustainable development will require coordinated policies, credible investment, adequate infrastructure, reliable geological information and effective safeguards for mining communities and the environment.
For states such as Benue, the challenge will be to move from identifying mineral deposits to developing commercially viable projects that attract investment, create local employment and support long-term economic growth.
Mongol maintained that Nigeria must focus on ensuring that its mineral endowments generate tangible economic value for the country and its constituent states, rather than allowing the sector’s potential to remain largely untapped.
