Nigeria urged to boost copper processing for economic growth
Coleman Technical Industries Limited’s MD, George Onafowokan, has called for increased investment in Nigeria’s copper and mineral processing sector. He highlighted that despite Nigeria’s vast potential, local manufacturers face challenges due to inadequate policies and underutilised capacity. Onafowokan stressed that enabling fiscal policies and greater collaboration across Africa could transform the country’s export capabilities. He urged the government to prioritise processing and value addition to strengthen Nigeria’s economy.
TLDR
- George Onafowokan says Nigeria is not fully utilising its copper resources and processing capacity.
- Coleman invested over N20bn-N30bn in copper processing, but policy delays have left this idle.
- The company operates at less than 20% capacity, mainly due to lack of enabling fiscal measures.
- Onafowokan urges the government to sign the 2025 fiscal policy to support local manufacturers.
- He believes prioritising mineral processing will boost exports, create jobs, and add significant value to the economy.
