Nigeria's Gold Endowment Beckons International Capital

Gold has become an increasingly important strategic asset in the global economy, with prices rising by about 19% per year on average since 2018.

Central banks have been buying more gold, particularly after Russia's foreign reserves were frozen following its invasion of Ukraine. Gold is attractive because it's not a promise to repay money like government bonds.

The usual relationship between gold prices and interest rates has become less predictable. Central-bank purchases, geopolitical uncertainty, and concerns about government debt have influenced demand more than ever before.

Nigeria has extensive gold occurrences, particularly in the north-west and south-west schist belts. However, it needs to determine whether these deposits can reach a comparable level of scale like the Segilola Gold Mine operated by Thor Explorations.