An Empirical Analysis of the Contribution of Mining Sector to Economic Development in Nigeria

Abstract

Nigeria is richly endowed with vast natural resources that are widely distributed across the country among these are;solid minerals, petroleum and natural gas. About fifty solid minerals have been discovered in five hundred locations in the country (Alison-Madueke, 2009).As a result of this, mining is done virtually in all the states of the federation.Mining industries have been viewed as key drivers of economic growth and the development process, as lead sectors that drive economic expansion which can lead to higher levels of social and economic well being (Bridge, 2008).Coal and tin ranked high as Nigeria‟s foreign exchange earners during the colonial period and after the country‟s independence in 1960, other minerals such as limestone, gold, marble, clay etc were mined to a lesser degree mainly for local consumption (Adekeye, 1999).