AN ambitious programme by the Federal Government to make Nigeria a sub-regional hub for gold production is a right step that has been too long delayed. ), and Adegbite should doggedly oversee the gold rebound, partner the private sector to revitalise the entire solid minerals sector to resuscitate and reshape the economy. While mining was a major activity in Nigeria since 1913, with gold production, according to a Reuters report, peaking by the 1930s and up to the 1960s, there are hardly large-scale gold mining operations today. Yet, global gold export reached $295.4 billion in 2019, the World Gold Council disclosed and is expected to spike this year due to renewed investor interest. Ghana moved to No.7 spot among the top global gold producers with 142.4 tonnes per annum, earning $6.23 billion from gold exports in 2019 after overtaking South Africa (118.2T) as Africa’s largest gold exporter in 2018.

Source: Punch August 23, 2020 23:03 UTC