#Sunshine2015 Economic integration of Coper Metal in NIgeria to attract Direct Foreign Investment for Sustainable Development by Asipita Salawu @ the #NSE conference in #Akure #NIgeria

1. Economic Integration of Copper Metal in Nigeria to attract
Direct Foreign Investment for Sustainable Development
Abdulrahman, A. S.; Okonkwo, E. T.; Yusuf, H.;
Abdullahi, A. T.
Department of Materials and Metallurgical
Engineering
Federal University of Technology, Minna, Nigeria
asipita.salawu@futminna.edu.ng
08036812724
NSE Annual Conference: SUNSHINE 2015
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2. INTRODUCTION
Nigeria happens to be one of the most
endowed nations in Africa; apart from
crude oil, her minerals reserves are still
relatively untouched, despite the
abundance of a variety of these minerals,
most of them in commercial quantity.
 One of the minerals which has been
discovered to be available in Nigeria and
can be exploited by the country for
economic gains is Copper.
Copper is a highly valued metal with some
useful properties such as ductility, high
thermal and high electrical conductivity.
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3. INTRODUCTION CONT.
 Mining, beneficiation and
refining of copper ores are
flexible.
 There is high global demand for
copper.
 http://minerals.usgs.gov/minerals/
 Taking advantage of the high
global demand for copper to
generate substantial foreign
exchange is definitely a step in
the right direction.
 More so, with the current
volatility and accompanying
uncertainties of the oil and gas
market.
Engr. Dr. A. S. Abdulrahman MNSE 3

4. The Paradigm Shift
 Prior to the oil boom era of the
1970’s and 1980’s, Nigeria was
known internationally as a key
producer of minerals such as Coal,
Tin, Columbite and so on.
 Early developmental projects in the
country were also funded through
the proceeds from sales of these
commodities
 The discovery of crude oil in the
country and its seemingly financial
viability had over the years eroded
the interest of the country in the
solid minerals sector and
consequently relegated Nigeria to
its current place as a mono
economy.
Engr. Dr. A. S. Abdulrahman MNSE 4
African Countries Commodities Dependence.
S/N COUNTRIES COMMODITY PERCENTAGE
DEPENDENCE
1 Algeria, Equitorial Guinea,
Libya, Nigeria
Coal, Petroleum 90
2 Botswana Diamond, Copper,
Nickel etc
80
3 Sierra Leone Diamond 80
4 Congo Kinshasha Diamond,
Petroleum, Cobalt,
Copper
80
5 Zambia Cobalt, Copper 65
6 Mali Gold 50

5. Copper Ore deposits in Nigeria
Reports from the Federal
Ministry of Mines and Steel
Development, Nigeria ,
revealed that Copper ore
deposits have been discovered
in the country and as such,
copper becomes one of the
industrial minerals resources for
the country.
It is however difficult to
estimate the actual amount of
copper ore in the country as it
occurs as associated minerals in
the body of the ore.
Although known reserves have
been estimated to be around
10,000,000 tons’
Copper deposits so far
discovered in Nigeria are mainly
in the Northern part of the
country such as;
Nassarawa, Plateau, Zamfara,
Bauchi and Gombe States.
Unfortunately, these deposits
are among the many in Africa
that are yet to be exploited.
Engr. Dr. A. S. Abdulrahman MNSE
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6. Challenges
 Some of the identifiable challenges
which need to be taken into
consideration with a view to
preventing or addressing them, are:
 Economic Anomaly of the
Mining communities:
 Mining jobs and incomes accruing form
them are very unstable
 The advent of new technology which
displaces labour
 Environmental impact of the mining
activity
 Displacement of other economic
activities which hitherto was the
communities means of sustenance
 Environmental Impact:
 Air Pollution
 Water Pollution
 Water Shortage
 These problems notwithstanding,
the mining and processing of copper
has not slowed down and this is
attributable to the fact that methods
and processes have been developed
for the purpose of containing the
problems that arise from mining
and processing of copper.
Engr. Dr. A. S. Abdulrahman MNSE
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7. The way forward
The call for copper mining in
Nigeria does not entail a switch
from oil and gas rather a
diversification to multi-
commodity economy.
It means more revenue for the
country both from its current
main stay and from copper.
Furthermore, as earlier
mentioned, the need for
increased interest in copper is
based on its high demand in the
global marketplace as a result of
its application in the areas of:
Electricity generation and
transmission
Communication equipment
production
Construction: For plumbing,
roofing and cladding, copper
pipes etc
Transportation: copper is used
in cars, trains, and other means
of transportation
Others: Including sculptures,
cookware and musical
instruments
Engr. Dr. A. S. Abdulrahman MNSE
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8. Conclusions
 The current posture of the Federal Government of
Nigeria to explore other sources of revenue
generation such as Agriculture and Solid minerals
is without doubt a step in the right direction as
this decision when implemented, would yield
substantial benefits for the country in form of job
creation, poverty reduction, increase in foreign
exchange earnings, increase in foreign direct
investment to mention just a few.
 In diversifying into the solid minerals sector, the
Federal government of Nigeria must essentially,
allow the sector to be driven by private investors
while its responsibilities should be mostly that of
a facilitator for conducive environment and
regulator.
 In addition to other minerals available in Nigeria,
copper particularly, needs to be given some
consideration for exploitation to the benefit of the
nation. This is because the millions of tonnes of
copper ore within Nigeria’s borders have no
economic benefit to the country as long as they
remain untapped.
 The United States of America has mined its
copper reserves since the 1840’s and is still
one of the world’s top producers/consumers
of copper. Despite this, it still imports copper
from Chile, Mexico and Canada.
 While Nigeria may not have as much copper
deposits as Zambia or Chile;
 the top producers of copper in Africa and
the world respectively, she can definitely
take a share of the global market by
exploiting the copper resources within
the country as the demand for copper
globally cannot be exceeded by the
injection of Nigerian copper into the
global market.
Engr. Dr. A. S. Abdulrahman MNSE 8

9. Recommendation
This paradigm shift requires
however, some immediate
actions that the Federal
Government of Nigeria needs to
take as follows:
Encourage Private Sector
Participation
Publicise Available
Incentives for Willing
Investors
Sensitization and Awareness
Creation
Infrastructural Development
Proper waste management
procedures
Firm and Effective
Regulation
Welfare of Host
Communities
Engr. Dr. A. S. Abdulrahman MNSE
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Questions??Questions??