The federal government has revealed that Nigeria can generate a huge amount of cash from nickel, a new mineral resource recently discovered in Kaduna State.

Minister of State for Mines and Steel Development, Hon AbubakarBawaBwari told newsmen that the discovered nickel deposits run into over 1 million tonnes and can cough $400 billion for the country.

READ ALSO  FG revenues rise by 33% in June

“Despite the collapse of global mineral and oil prices, nickel is still sold for as high as $10,000 dollars per tonne in the world market”, he said.

READ ALSO  Court sends 5 suspected kidnappers to prison in Anambra

The minister explained that the discovery was only a surface exploration and that full exploration had yet to be carried out in the area, adding that exploration and exploitation could reveal more deposits.

READ ALSO  FIFA president rejects televised election debate

AdAre you a One Minute Man? This Nafdac Approved Solution Would Help you Last 30mins+ with no side effects