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Isemede identifies agriculture, solid minerals as $1trn growth drivers
Isemede identifies agriculture, solid minerals as $1trn growth drivers
Economy
By Taiye Olayemi
Lagos, Feb. 2, 2026 (NAN)An international trade expert, Dr John Isemede, has said that Nigeria can achieve a one-trillion-dollar economy by fully harnessing opportunities in agriculture, solid minerals and the services sector.
Isemede, a former Director-General of the Nigerian Association of Chambers of Commerce, Industry, Mines and Agriculture (NACCIMA), made this known during a courtesy visit to the Lagos office of the News Agency of Nigeria (NAN) on Monday.
Speaking on Nigeria’s economic prospects, he described agriculture and solid minerals as low-hanging fruits capable of driving rapid and sustainable growth if properly developed.
According to him, the solid minerals sector remains grossly underutilised, despite its proven contribution to economic growth in other African countries.
He noted that solid minerals account for more than 30 per cent of South Africa’s Gross Domestic Product (GDP), compared to about 0.1 per cent contribution in Nigeria.
“This shows that what Nigeria currently generates from solid minerals is not even enough to cover the salaries of those working in the sector,” Isemede said.
The trade expert said targeted investments, policy clarity and local value addition in agriculture and solid minerals could significantly expand Nigeria’s revenue base and export earnings.
He added that Nigeria’s ambition of building a one-trillion-dollar economy was achievable if the country moved beyond primary production to processing and manufacturing.
Isemede also expressed concern over the dominance of foreign operators in Nigeria’s mining industry, noting that Chinese interests currently accounted for about 62 per cent of activities in the sector.
He added that Nigeria’s ambition of building a one-trillion-dollar economy was achievable if the country moved beyond primary production to processing and manufacturing.
According to him, countries that began developing their solid minerals sectors more than a century ago now account for less than two per cent of mining activities in Nigeria.
Prof. Eguakhide Oaikhinan, Professor of Ceramic Engineering, also spoke extensively on the vast opportunities available in the solid minerals sector.
He said that to expose the untapped potential of solid minerals, “we will hold a summit later this year where relevant stakeholders will be in attendance.”
He said that to expose the untapped potential of solid minerals, “we will hold a summit later this year where relevant stakeholders will be in attendance.”
Responding, Mrs Ifeyinwa Omowole, Ag. Head of Lagos Operations, commended the duo for their visit and assured them of NAN’s support in all their endeavours aimed at promoting national growth.
She advised Nigerians to engage in the solid minerals value chain to drive economic growth.
After introducing NAN’s services and products, she emphasised the need for Nigerians to look inward and channel their efforts towards boosting the country’s economy for posterity.(NAN) (www.nannews.ng)
PTB/KOO
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Edited by Kevin Okunzuwa
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