Nigeria Warned Minerals Sector Could Repeat Oil-Era Failures

What changed

Tengi George-Ikoli, Nigeria Country Manager at the Natural Resource Governance Institute, warned that Nigeria could repeat the failures of its oil era as it develops its minerals sector.

George-Ikoli said nearly seven decades of commercial oil production had failed to produce broad-based economic development. The warning puts Nigeria’s minerals policy under a simple test: whether new extraction creates wider prosperity or repeats an old pattern.

Why it matters

The minerals sector is being judged against oil’s record before its development path is fully set. That makes governance the central issue, not just the presence of valuable deposits.

The informed outlook is cautious. If Nigeria carries the same weaknesses into minerals policy, mining could expand without translating into broad-based gains. If it learns from the oil experience, the sector offers a chance to avoid repeating that outcome.

The warning does not identify the specific policies, projects or safeguards that would decide which path Nigeria takes. For now, the important shift is that minerals development is being treated as a test of whether Nigeria can turn natural resources into lasting economic opportunity.