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The solid minerals and mining sector in Nigeria contributed a paltry 0.5% to the Gross Domestic Product (GDP) in 2018, with annual production averaging 40 million metric tons valued at about 34 billion naira ($95 million US dollars). The solid minerals with the largest production are industrial rocks; limestone, granite, laterite, sand, shale and clay that constitute over 95% of production by tonnage and 90% by value. Oyo State is blessed with prominent minerals and endowed with a wide range of igneous and metarmorphic group of minerals, namely Iron ore, tantalite, columbite, cassiterite, bismuth, gemstones, gold, marble, red clay, sand, gravel, granite, syenite, kaolin and talc. Oyo State has the largest Marble/Dolomite deposits in Nigeria and comes second in its Granite reserves. In the same vein, it also has the 2nd largest Gemstone concentration in Nigeria and almost all gemstones that have been described can be found in Oyo State. The justification for investing in this sector profit potential in this sector in Oyo state knows no bounds.


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