Nigeria is one of the nations blessed with vast number of mineral resources which can make its economy one of best in the world. However, very little attention is directed to this sector as the sector contributes less than 10% to the country's Gross Domestic Product (GDP). Therefore, this study evaluates the economic potentials of Nigeria mineral resources as means of liberating the country from its current economic woes. Data obtained from the existing company, internet sources, U.S. Geological Survey, Nigeria Geological Survey Agency among others were used to form the bases for the analyses. The economic indicators were first computed to determine the dependency of Nigeria mineral demands on the import and forecasting was also done using the moving average method and forecast command. The obtained import reliance and self-sufficiency indicated that Nigeria still depend largely on the importation to meet its mineral requirements and hence not self- sufficient. The Net Profit Value (NBP), Internal Rate of Return (IRR) and Payback Period (PBP) revealed that the minerals investigated are economically viable. To enhance the easy assessment of the NPV, artificial intelligence approach, Artificial Neural Network (ANN) was used to develop models for barite and iron ore. The model was validated, and the validation results are compared with the actual values. They were found to be very close to the actual NPV and can be used for the NPV predictions. Therefore, ANN model was transformed through the weights and biases to mathematical form. Hence, the study has revealed the dependency of Nigeria on import and the economic viability of the minerals in Nigeria.
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