In 2024, Nigeria's extractive industry faced a landscape marked by mixed investment realities. The oil and gas sector grappled with significant challenges, including theft, underinvestment, and ageing infrastructure. In response, regulatory reforms under the Petroleum Industry Act aimed to restore investor confidence. Conversely, the solid minerals sector experienced a surge in exploration activities driven by incentives and the formalization of artisanal operations. Despite these advancements, investor concerns regarding governance and logistical bottlenecks remained prevalent.
Looking ahead to 2025, the government's focus on expanding solid mineral exports, leveraging advanced mining technologies, and ensuring operational transparency could redefine the sector's potential.
George Etomi & Partners shares his insights.
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