Gemstone Cutting and Lapidary in Nigeria Explained

16 October 2026 - Naira Briefing

Nigeria produces fine rough gemstones, but most are exported uncut — so the real prize is lapidary, the craft of cutting and polishing stones into finished gems worth many times the rough. That value is captured in dollars, tying it to our commodity prices.

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How it works

Rough sourcing — sapphire, tourmaline, garnet and more.
Cutting and polishing — lapidary adds most of the value.
Sale — finished gems sold abroad in dollars.

Why the dollar matters

Exporting cut gems rather than rough keeps far more of the dollar value at home — the same value-added logic as gemstone mining. A lapidary industry turns Nigeria’s stones into the exchange rate-priced finished product.

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