Nigeria is heading towards a global mining destination to attract investors into the sector.
Managing Director Titan Minerals Company Limited, Mr. Fadi Abou Ghazale, stated this in Abuja the nation’s Capital during his presentation at the opening ceremony of the second International Conference of Nigerian Society of Economic Geologists, organised by the Society.
The Mining sector is essential to growth in Nigeria considering the potential to export mineral resources to the rest of the world and the drive for diversification.
He said; “Most of the listed companies in the world in Australia, the UK, and Canada mostly in the West don’t have enough projects to meet the demand and therefore the next focus is Africa and they want Nigeria to be among these places that they are going to be interested in because Nigeria has large resources and the other untapped minerals that are still at the surface and they believe this is a great opportunity for the industry to recover,” Mr. Abou Ghazale explained
On investment
He said; “A Canadian company just declared that they are coming to invest five million US Dollars in Nigeria, mostly in Lithium, these are the kind of opportunities that we want to drive into the market and there is a golden opportunity for us to be able to attract more investment and more projects.
“The role of government is to de-risk these areas so that different companies will have more visibility over credible data that are available in Nigeria.”
The Minister of Solid Minerals Development, Dr. Oladele Alake was represented by the Director of Artisans and Small scale Mining, from the Ministry of Solid Minerals, Mr. Yunusa Mohammad about the significance of the conference
Alake said; “This annual forum of geoscientists and stakeholders has become a very good platform for discussion on geoscientific development and research about the national economic growth and development.
“The Nigerian Government is still embarking on the major aim of diversifying the economy of this nation, through promotion of maximum utilisation of the country’s abundant mineral resources, some of the key efforts in this direction is the splitting of the ministry of mining and steel development into two ministries, ministry of Solid Mineral Development and Ministry of Steel Development, this major is aim in bringing major focus to each of the sectors.”
“Another major area that the administration tries to reposition mineral and metal sectors is the ongoing review of the industry and regulatory framework to enact a more robust and better mining law that will be standing with present reality,” the Minister said
President of Nigeria Mining and Geosciences Society, Professor Akinade Olatunji highlighted some of the significance of the conference to the Mining sector.
“As the country grapples with the challenges of revenue shortages and meeting mounting responsibilities at all levels, there is a need to leverage on the mineral and mining sector that can absorb the teeming youths who are unemployed in the country provided the right things are done,” Professor Olatunji said,
He said; “the potential of Nigeria in mineral resource endowment is not in doubt that is what we have seen again presented by the keynote speaker, it is about time that this potential is transformed to actual benefit for the nation.
“Nigeria is said to be endowed with over 40 types of minerals including Marble, Coal, Iron ore, Gold, Silica, Lead, Zinc, Tin ore, Manganese, Granite, Limestone, etc. when they are properly harnessed they will take the country into great height.”
The theme of this year’s conference was; Economic Diversification in Nigeria, the role of the Mineral and Mining sector.
Mercy Chukwudiebere
