How Nigeria Can Remain Africa’s Largest Economy-Oil/No Oil -

Learn about how Nigeria can remain Africa’s largest economy and list of Nigeria natural resources or mineral resources in Nigeria and investing in Nigeria.

Nigeria: Africa's largest economy

Nigerian flag, Nigeria Coat of arms

Nigeria beyond oil is the key for Nigeria to remain Africa’s largest economy in Africa as well as the number one investment destination in Africa with or without crude oil. In addition to oil and gas, Nigeria can retain this feat and even do better internationally  through agriculture, petrochemicals,  minerals, gemstones, metals, alloyshuman resources development, good resources management and most importantly stable power supply- electricity and other alternative energy. Thus if Nigeria can fully harness these resources as well as manage the proceeds from these resources, Nigeria can definitely attain economic sustainability in all the Nigerian sectors as well as compete with other economies in the world.

As at the time of writing this article Nigeria is the largest black nation in the world with a population of about two hundred million(200,000,000) people. Nigeria is made up of  thirty six ( 36 ) states with their respective state capitals and a federal capital territory Abuja which is the capital of Nigeria. Nigeria by some school of thoughts is referred to as the giant of Africa which can be ascertained in part after Nigeria became the  largest economy in Africa ( Africa’s largest economy ) in 2014 when the Nigerian economy added 89% to her GDP thereby making Nigeria’s economy to worth $510 billion.  Also, as at the time of publishing this article, Nigeria is said to be the 6th fastest growing economy in the world as well as the the number one investment destination in Africa. The rebasing of Nigeria’s Gross Domestic Product ranked the nation’s economy firsrt(1st) in Africa and twenty-sixth(26th) globally.

The Thirty Six ( 36 ) States in Nigeria and Their Capitals

State Capital
Abia State Umuahia
Adamawa State Yola
Akwa Ibom State Uyo
Anambra State Awka
Bauchi State Bauchi
Bayelsa State Yenagoa
Benue State Makurdi
Borno State Maiduguri
Cross River State Calabar
Delta State Asaba
Ebonyi State Abakaliki
Edo State Benin City
Ekiti State Ado-Ekiti
Enugu State Enugu
Federal Capital Territory Abuja
Gombe State Gombe
Imo State Owerri
Jigawa State Dutse
Kaduna State Kaduna
Kano State Kano
Katsina State Katsina
Kebbi State Birnin Kebbi
Kogi State Lokoja
Kwara State Ilorin
Lagos State Ikeja
Nasarawa State Lafia
Niger State Minna
Ogun State Abeokuta
Ondo State Akure
Osun State Oshogbo
Oyo State Ibadan
Plateau State Jos
Rivers State Port Harcourt
Sokoto State Sokoto
Taraba State Jalingo
Yobe State Damaturu
Zamfara State Gusau

Each of the 36 states in Nigeria are endowed with different natural resources, mineral resources and human resources thereby accounting for variety of  Nigeria natural resources, Nigeria mineral resources and Nigeria human resources respectively.

How Nigeria Can Remain Africa’s Biggest Economy and Number One Investment Destination in Africa.

Nigeria is endowed with natural resources in terms of agriculture, crude oil, petrochemicals, minerals, gemstones, metals, alloys, and others too numerous to mention. Despite paying little attention at the local, state and national levels by the Nigerian government and Nigerian entrepreneurs to the other Nigerian sectors as at when crude oil was discovered in Nigeria it will be better now for Nigeria to start thinking beyond oil irrespective of the fact that crude oil account for over 70% of the country’s economy as at the time of publishing this article. To make Nigeria remain the largest economic and investment hub in Africa, Nigeria Government must make all efforts to work towards unifying Nigerians- those in Nigeria and Nigerians in diaspora as well as put in place policies geared towards diversifying  Nigeria economy from being over dependent on crude oil and hence there is an immediate need for the government to make frantic efforts in developing the other Nigeria natural resources, Nigeria mineral resources and even Nigeria human resources with a focus on infrastructural development that will attract tourists as well as local and foreign investors. It is without doubt that the diversification of Nigeria economy will be advantageous. There should have been national projects like Nigeria Beyond Oil initiatives which Delta State pioneered through her  Delta Beyond Oil initiative. The Nigerian oil-producing states with the help of the Nigerian Government should key into projects like this to enable these oil producing states in diversifying their economy and  Nigerian economy per se being diversified from being overdependent on oil and gas.

The institutions involved in curbing crimes as well as corruption should be empowered with the required laws and funding  rather than using ethnic differences and  religious differences to heat up the  polity in Nigeria. No country will develop Nigeria for Nigerians but only the Nigerian Government with the collaborative efforts of Nigerians can help Nigeria to remain united so as to  attain sustainable development in all the other neglected sectors. Irrespective of the fluctuation in crude oil prices as at the time of  publishing this article it is never too late to pay attention to the other resources through good policies and implementations. In the same vein, apart from Nigeria, other countries can benefit from the subject matter by diversifying their economy (as highlighted in  this article: Beyond Oil: Why Oil Dependent Countries Should Diversify). This is because any economy that is dependent on just one or two resources will become porous and vulnerable when economic recession sets in. Thus, economic diversification serves as a cushion against economic melt down.

It is in this drive to see Nigeria and other countries that derive the largest portion of their revenue from crude oil that this platform which serves as classifieds, business-to-business(b2b) marketplace and a business directory for agricultural, oil and gas, mining/mineral,  gemstone, metallurgy/metal, alloy, energy and power offers.

At classify24.com, you can find or list agricultural products(crops, animals-livesstocks & pets), agricultural equipment or farm equipment, agrochemicals (fertilizers, pesticides, herbicides, etc), agricultural services, crude oil, petroleum products, oil and gas equipment and machinery, petrochemicals, petrochemical products, petrochemical equipment, petrochemical services, minerals ( solid minerals, metals, precious metals, precious stones, gemstones, metals, alloys and energy offers), mining machinery and equipment and mining industry services.

Classify24 can be used by local buyers and sellers as well as importers and exporters of products as well as services related to agricultural, oil and gas, petrochemical, mining, metallurgy, energy and power sectors.

Nigeria Natural Resources or Nigeria Mineral Resources

The natural resources or mineral resources of all the states in Nigeria are as follows.

1. Abia State Natural Resources or Abia State Mineral Resources

The natural resources in  Abia state includes oil and gas, gold, zinc, lead, salt, etc.

2. Adamawa State Natural Resources or Adamawa State Mineral Resources

The natural resources  in Adamawa state are gypsium, bentonite, magnesite, kaolin, etc

3. Akwa Ibom State Natural Resources

The natural resources  in Akwa Ibom state includes oil and gas, lignite, lead, zinc, uranium, salt, clay, etc

4. Anambra State Natural Resources or Anambra State Mineral Resources

The natural resources  in Anambra state are iron ore, limestone, lignite, zinc, lead, salt, phosphate, gypsium, clay,  glass sand, etc.

5. Bauchi State Natural Resources or Bauchi State Mineral Resources

The natural resources  in Bauchi state includes  coal, tin ore ( cassiterite ), gold, iron ore, clay, gold, gypsium, columbite, wolfram, limestone, etc.

6. Bayelsa State Natural Resources or Bayelsa State Mineral Resources

The natural resources in Bayelsa state incudes oil and gas, manganese, uranium, clay, gypsium, zinc, limestone, lead, lignite, etc.

7. Benue State Natural Resources or Benue State Mineral Resources

The natural resources in Benue state includes gypsium, lead, zinc, iron ore, coal, gemstones, limestone, marble, salt, barite, clay, etc.

8. Borno State Natural Resources or Borno State Mineral Resources

The natural resources in Borno state includes limestone, hydrocarbon, kaolin, clay, bentonite, gypsiuum, diatomite, etc.

9. Cross River State Natural Resources or Cross River State Mineral Resources

The natural resources in Cross River state includes oil and gas, uranium, limestone, barite, lead, manganese, zinc, lignite, etc.

10. Delta State Natural Resources or Delta State Mineral Resources

The natural resources in Delta State includes oil and gas, silica, tar sand, iron ore, kaolin, lignite, marble , clay, glass sand, gypsium, etc. This state is unique in that the government pioneered a project called the Delta Beyond Oil initiative which other oil-producing states and Nigeria as a nation should key into by through what can be termed Nigeria Beyond Oil as a way of diversifying the Nigerian economy from being over dependent on crude oil.  As a proposition, it is recommended  that other Nigerian states and countries that have crude oil as their major economic back bone ( major source of revenue or foreign exchange ) should also think beyond oil since crude oil is a nonrenewable resource that can deplete with time and since oil price fluctuates because of demand, supply, alternative sources of energy, geopolitical and other probable factors affect global crude oil prices as observed in the  fall of oil price  as at the time this article is being published

11. Ebonyi State Natural Resources or Ebonyi State Mineral Resources

The natural resources in Ebonyi state includes gold, zinc, salt, lead, etc.

12. Edo State Natural Resources or Edo State Mineral Resources

The natural resources in Edo state are oil and gas, gold, gypsium, iron ore, lignite, limestone, marble, bitumen, clay dolomite, phosphate, glass sand, etc.

13. Ekiti State Natural Resources or Ekiti State Mineral Resources

The natural resources in Ekiti state includes tatium, granite, feldspar, syenite,  kaolin, etc.

14. Enugu State Natural Resources or Enugu State Mineral Resources

The natural resources in Enugu state includes coal, limestone zinc, lead, etc.

15. Gombe State Natural Resources or Gombe State Mineral Resources

The natural resources in Gombe state are gemstones, gypsium, etc.

16. Imo State Natural Resources or Imo State Mineral Resources

The natural resources in Imo state includes oil and gas, zinc, lignite, lead, limestone, marcasite, salt, phosphate, etc.

17. Jigawa State Natural Resources or Jigawa State Mineral Resources

The natural resources in Jigawa state  includes kaolin, tourmaline, butyles, amethyst ( a semiprecious stone), potash, silica, iron ore, copper, quartz, clay, antimony, etc.

18. Kaduna State Natural Resources or Kaduna State Mineral Resources

The natural resources in Kaduna state are gemstones, gold, graphite, kaolin, hyanite, mica, rock crystal, amethyst, aqua marine, topaz, tourmaline, asbestos, clay, flourspar, Sihnite, superntinite, tentalime, ruby, sapphire, nickel etc.

19. Kano State Natural Resources or Kano State Mineral Resources

The natural resources in Kano state includes copper, gemstones, glass sand, tin ore ( cassiterite ), zinc, tantalite, lead, pyrochinre, etc.

20. Katsina State Natural Resources or Katsina State Mineral Resources

The natural resources in Katsina state includes salt, kaolin and marble, asbestos, man ganese, gold, uranium, nickel, chromite, silica sand, laterite clay, etc.

21. Kebbi State Natural  Resources or Kebbi State Mineral Resources

The natural resources in Kebbi state includes gold, quartz, kaolin, bauxite, clay, silica sand, potassium, salt, etc.

22. Kogi State Natural Resources or or Kogi State Mineral Resources

The natural resources in Kogi state includes coal, marble, limestone, kaolin, talc, feldspar, tantalite, iron ore, gypsium, dolomite, etc.

23. Kwara State Natural Resources

The natural resources in Kwara state includes iron ore, marble, mica, tantalite, tin ore ( cassiterite ), columbite, feldspar, gold, etc.

24. Lagos State Natural Resources or Lagos State Mineral Resources

The natural resources in Lagos state includes but not limited to bitumen, silica sand, glass sand, clay, oil and gas ( discovered by Esso Exploration and Production Nigeria in 1999 ).

25.  Nasarawa State Natural Resources or Nasarawa State Mineral Resources

The natural resources in Nasarawa state includes barytes, sharp sand, tin, marble, salt, coal, mica, salt, sapphire, talc, tantalite, tourmaline, quartz, zireon, semiprecious stones, aqua marine, chalcopyrite, clay, columbite,  cooking coal, dolomite, feldspar, galena, iron ore, limstone, etc.

26. Niger State Natural Resources

The natural resources in Niger state includes gold, talc, lead, zinc, clay, silica, marble, copper, iron, tin, columbite, feldspars, tantalite, etc.

27. Ogun State Natural Resources or Ogun State Mineral Resources

The natural resources in Ogun state include bitumen, gemstones, limestone, clay, phosphate, feldspar, kaolin, etc.

28. Ondo State Natural Resources or or Ondo State Mineral Resources

The natural resources in Ond o state includes oil and gas, limestone, gypsium, bitumen, kaolin, gemstone, clay, feldspar, coal, etc.

29. Osun State Natural Resources or Osun State Mineral Resources

The natural resources in Osun state  includes gold, granite, columbite, talc, tantalite, tourmaline, etc.

30. Oyo State Natural Resources or Oyo State Mineral Resources

The natural resources in Oyo state includes gold, kaolin, aqua marine, cassiterite (tin ore), clay, dolomite, gemstone, marble, silimonite, talc, tantalite, etc.

31. Plateau State Natural Resources

The natural resources in Plateau state are gemstone, granite, iron ore, kaolin, lead, barite, bauxite, bentonite, bismuth, tin ( cassiterite ), clay, coal, emerald, fluoride, marble, zinc, molybdenite, phrochlore, salt, tantalite, columbite, wolfram, etc.

32. Rivers State Natural Resources or Rivers  State Mineral Resources

The Natural resources in Rivers state includes oil and gas, lignite, marble, glass sand, clay, etc.

33. Sokoto State Natural Resources or Sokoto State Mineral Resources

The natural resources in Sokoto state includes gold, potash, silica sand, salt, limestone, phosphate, clay, granite, flakes, etc.

34. Taraba State Natural Resources or Taraba State Mineral Resources

The natural resources in Taraba state includes lead, lead, marble, gelano, salt, barytes, iron, gold, silver, etc.

35. Yobe Natural Resources or Yobe State Mineral Resources

The natural resources in Yobe state includes soda ash, tintomite,kaolinite, gypsum, gravel and silica sand, limestone, diatomite, mineral water spring, etc.

36. Zamfara Natural Resources or Zamfara State Mineral Resources

The natural resources in Zamfara state includes gold, coal, etc.

* Abuja Natural Resources or Abuja Mineral Resources

The natural resources in Abuja ( the capital of Nigeria ) includes cassiterite (tin ore), clay, dolomite, gold, lead, zinc, marble, tantalite, etc.

N.B: By etc, we refer to other minerals that may be discovered with time.

Investing in Nigeria and Investment Opportunities in Nigeria.

Nigeria has numerous investment opportunities for local and international investors. With the recent improvement of the ease of doing business in Nigeria, local and foreign investors are welcome to invest in various sectors in Nigeria. Thus, you can invest in the following sectors.

1. Invest in agriculture in Nigeria: Agricultural investors can invest in Nigeria agricultural industry.

2. Invest in oil and gas in Nigeria: Oil and gas investors can invest in Nigeria oil and gas industry.

3. Invest in petrochemical in Nigeria: Petrochemical investors can invest in Nigeria petrochemical industry.

4. Invest in mining in Nigeria: Mining investors can invest in Nigeria mining industry.

5. Invest in energy and power in Nigeria: Energy and power investors can invest in Nigeria energy and power industry.

6. Invest in other sectors in Nigeria.

In summary, Oil-dependent countries with particular reference to Nigeria should see reasons to think beyond oil by diversifying her economy and remain Africa’s largest economy as well as the number one foreign investment destination hub in Africa.

Also Read: Natural Resources Or Mineral Resources Of Countries

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