Rare Earth Minerals, Who Really Benefits From This?

[Exitoral]

I saw this news and quickly got a hunch that the race for these rare earth minerals is not Nigeria's idea. All they are focused on is looting oil money. So who really gave them this idea to do this?

First of all, we Nigerians are not even removing our oil from the ground. Foreign companies are doing that for us. A critical sector is being handed over to foreign companies.

I am thinking the same will also happen here because I am not even sure we are capable of handling this. And even if we have expatriates who can do this, will the Nigerian government ever give it to Nigerians to mine themselves?

If eventually foreign companies take control, what percentage are we really going to earn from it? Stories about foreign companies taking the bigger share are flying around the African continent. Will that also be the fate of this new industry in Nigeria?

I bet this will also be like the oil industry, whereby we shipped oil abroad to be refined and then shipped back to Nigeria, where we paid more for what we already owned. This stopped when Dangote built his refinery. Will the same fate happen here?

Who will really benefit from this? Citizens, government, or foreign investors?

https://punchng.com/fg-backs-africas-largest-400m-rare-earth-project-in-nasarawa/?utm

[Africolo]

I saw this news and quickly got a hunch that the race for these rare earth minerals is not Nigeria's idea. All they are focused on is looting oil money. So who really gave them this idea to do this?

First of all, we Nigerians are not even removing our oil from the ground. Foreign companies are doing that for us. A critical sector is being handed over to foreign companies.

I am thinking the same will also happen here because I am not even sure we are capable of handling this. And even if we have expatriates who can do this, will the Nigerian government ever give it to Nigerians to mine themselves?

If eventually foreign companies take control, what percentage are we really going to earn from it? Stories about foreign companies taking the bigger share are flying around the African continent. Will that also be the fate of this new industry in Nigeria?

I bet this will also be like the oil industry, whereby we shipped oil abroad to be refined and then shipped back to Nigeria, where we paid more for what we already owned. This stopped when Dangote built his refinery. Will the same fate happen here?

Who will really benefit from this? Citizens, government, or foreign investors?

https://punchng.com/fg-backs-africas-largest-400m-rare-earth-project-in-nasarawa/?utm

Nigerian Government will continue to be at the loosing end because they have refused to do what is right and expected of them to do, which is rehabilitating the refineries we have here and make it work then if we don't have expatriate or those that refine oil we employ them to do it here in Nigeria than paying higher amount to foreigners for them to refine the oils and shipped it back to us, we are the ones loosing out as a heavy percentage goes to the foreign countries for refining our own product. we call ourselves giant of Africa yet as common as oil we can't refine.

If a business Man Aliko Dangote can singlehandedly build a refinery that is refining oil how much more Nigeria a country that's supposed to have a working refinery couldn't, it's a big shame for all of us and the day we begin to prioritize this things that affects us as a people that's the day Nigeria will get better, so foreign investors will continue to get richer from our mineral resources because they bargain and take a higher percentage in other to refine it for us.