The Nigerian government has unveiled a first-of-its-kind geological map to show investors the locations and other potentials of Mineral deposits across the country.
The unveiling was made by Nigeria’s President, Bola Tinubu, represented by the Secretary to the Government of Federation, Senator George Akume, the Minister of Solid Minerals Development, Dr. Oladele Alake, Minister of Steel Development, Shuaibu Audu, Minister of Industry, Trade and Investment, Dr. Doris Uzoka-Anite and Governor of Nasarawa State, Abdullahi Sule during 8th edition and exhibition of the Nigerian Mining Week in Abuja, the nation’s Capital.
In his address, Senator Akume reaffirmed Nigeria’s commitment to supporting investors in the Mining sector and maximizing its potential.
He said; “The Mining Sector in Nigeria has suffered long neglect but the gains of the last 17 years initiated with various industrial reforms by the Nigerian government has positioned the sector to a trajectory of successes of huge dimension.
“This year’s theme underscores the federal government’s commitment to sustainable development, investment, and cooperation within the mining industry with a special focus on maximizing the Nigerian mining industry and potentials.”
“Having critically studied the Mining Industry in Nigeria, the present administration has observed the recorded losses observed by the nation through the export of crude Mineral Deposits and therefore has evolved the issue of value addition with its Mineral resources before exportation. The policy will ensure that the teeming youths in the country will also be meaningfully absorbed in economic ventures that will empower them while developing their skill in specialized areas of human endeavor as well as serve as a source of generation of the needed foreign exchange for the country the era of exporting mineral oil from Nigeria is gone,” Senator Akume explained.
In his speech, the Minister of Solid Minerals Development Mr. Oladele Alake said, that investing in the Country’s Mineral Resources can potentially reduce the dependence on oil revenues, Diversify Nigeria’s Economy, and provide significant Job opportunities for the teeming youths in the country.
“In recent years Nigeria has witnessed commendable efforts to revitalize the Mining Sector. We have worked diligently to streamline regulatory processes, create an attractive investment climate, and instill confidence in domestic and international investors. These efforts have borne fruit through strategic partnerships that recognize the immense potential within our borders. These partnerships will be pivotal in building a sustainable and globally competitive mining industry,’’ Mr Alake stated.
He said; “Our vision for the Mining Sector transcends mere resource extraction. We are firmly committed to conducting mining activities that are environmentally sustainable, socially responsible, and economically beneficial. We believe mining operations should serve as catalysts for community development and job creation and adhere to Industry Best Practices that minimize ecological footprint.”
In his remarks, the Minister of Steel Development, Shuaibu Abubakar said that steel is the backbone of industrialization and a core ingredient for infrastructure development, manufacturing, and construction.
Abubakar said; “In our country, we are endowed with an array of critical minerals such as coal, tin, lead, limestone, and iron ore, among many others. These resources, if properly harnessed, hold the key to not only diversifying our economy but also significantly increasing our revenue streams. They are the bedrock upon which we can build a more prosperous, self-sufficient, and industrially advanced Nigeria,” Mr. Oladele Alake explained
On Steel Development
The Minister reiterated Nigeria’s readiness to develop the steel sector to create numerous jobs, attract investments, and contribute significantly to Nigerian Gross Domestic Product.
He said; “It is on this heel that we have set out motions to diversify Nigeria’s economy and attract Foreign Direct Investment (FDI) by transforming the Ajaokuta Steel Company Limited (ASCOL) complex into a Free Trade Zone, and designation of 24,000-hectare land of Ajaokuta as an Industrial Park. This strategic initiative aims to revitalize the steel industry, create jobs, and stimulate economic growth in the region thus creating an industrial park in the ancient city of Ajaokuta.”
“This is in addition to the development of a three-year plan for Ajaokuta, and a broader five-year plan to expand steel production to other parts of the country. This comprehensive approach aims to harness Nigeria’s vast iron ore resources and leverage them for industrial growth,” the Minister stated
The President of the Miners Association of Nigeria, Mr. Dele Ayanleke expressed optimism about the Mining sector in Nigeria.
Ayanleke said; “Solid minerals sector is generating a heated interest at the moment, especially from the lower tiers of government. Though this is coming with some constitutional and legal challenges, but we believe that the articulate management of those challenges will provide a workable template for the streamlining of all legal and regulatory frameworks that will accelerate the growth of the sector.”
He commended President Tinubu’s determination to develop Mineral sectors in the country for economic development.
“We have also registered the intention of Mr. President to relaunch the nation back on track to be among the comity of industrialized nations of the world as indicated by the separation of the iron and steel component and creating a different ministry to accelerate the processes to revolutionize the steel sector,” Ayanleke added.
Illegal Mining
One of the participants from South Africa the Event Director, Mr, Samukelo Madlabane expressed his view on how to address illegal mining activities to develop the sector.
He said; “We need to create a friendly environment for investors, we need to ensure that there is transparency, we need to ensure that there is access to data and information we will achieve positive steps to enable investors including exploration companies to engage in the sector.”
Meanwhile, An explorer from India Mr. Sadheesh Kumar said that Nigeria has numerous opportunities in the mining sector and he is here to explore the potential and invest in the sector.
Another participant and Chairman of Joston Limited, Mr. Tony Madojemu, from Edo State Southern Nigeria, highlighted some of the importance of the event to the miners.
Madojemu said;“It is a very good initiative coming from the ministry to achieve desired objectives regarding mining in Nigeria, we need more of this kind of initiative, a lot of people are coming in some are aspiring miners this will serve as a good platform to understand the potentials of mining business in Nigeria.”
Nigeria Mining Week is aimed to provide a unique opportunity for networking, knowledge sharing, and exploring innovative solutions to drive sustainable growth in the Mineral Resources sectors.
The theme of this year’s Mining week is “Capitalising on Nigeria’s Critical Mineral Resources For Economic Growth.”
Mercy Chukwudiebere
