Raw gemstone exports cost Nigeria jobs and billions in earnings, stakeholders warn

Nigeria is losing thousands of jobs and billions of naira in potential earnings by exporting gemstones in their raw form instead of processing them into finished products, stakeholders in the mining sector have warned.

The stakeholders spoke at the just concluded 11th Nigeria Mining Week on Wednesday in Abuja. They said Nigeria could capture more value from its mineral resources if it processes gemstones locally.

Processing clusters, financing top demands

Stakeholders called for the establishment of gemstone processing clusters, affordable financing, improved security and sustained skills development. They said these measures would enable local operators to capture more value from the country's mineral resources.

They stressed that Nigeria could build a competitive gemstone and jewellery industry by investing in cutting, treatment, grading, branding and manufacturing instead of relying largely on the extraction and export of raw stones.

Adelia manager seeks coordinated system

Segun Okoh, Country Manager of Adelia, said Nigeria needed a coordinated system that would continuously develop skilled workers and entrepreneurs while connecting mining communities to the entire gemstone value chain.

What it means for Nigerian businesses

For local operators, the warning points to a value chain gap. Raw exports may bring quick revenue, but they leave the higher-margin work, cutting, grading, branding and jewellery manufacturing, to other countries. Building local processing capacity could create jobs and keep more naira in the economy, but it depends on financing, security and skills.