Nigeria: Foreign Criminals Go For Gold Propped Up by Local Actors

Nigeria’s mining sector is diverse in mineral resources that make a significant contribution to the nation’s gross domestic product. The country is endowed with an estimated US$700 billion in commercially viable minerals, giving it the capacity to diversify its revenue sources and boost foreign exchange earnings. Minerals include barite, bitumen, iron ore, lead, zinc, coal, limestone and gold. However, the mining sector faces multiple challenges. Its poor performance can be attributed to various factors including opaque extraction, insecurity and organized crime. Nigeria’s natural resources have been exploited by foreign criminals for decades, and the extractive sector is the most recent…