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The Lagos Chamber of Commerce and Industry (LCCI) has expressed concern about the Nigerian mining industry recorded low performances in the last two quarters.
The Director-General of LCCI, Dr. Chinyere Almona, said that LCCI has evaluated the mining sector’s performance to the country’s Gross Domestic Product (GDP) and noted that the Mining & Quarrying sector contributed 4.47 percent to the overall GDP in the fourth quarter of 2023, lower than the contributions recorded in 2022 fourth quarter at 4.51 percent, and lower than the previous quarter at 8.32 per cent.
Despite its immense potential, the mining sector has been hampered by many obstacles, including inadequate infrastructure, regulatory inconsistencies, limited access to financing, and security concerns in mining locations," she said .
