The Nigerian government is prioritising the mining and steel sector to make it catalyze the country’s vision for industrialisation.
President Muhammadu Buhari stated this on Tuesday at the opening of the Sixth Edition of the Nigeria Mining Week, held at the International Conference Centre, Abuja.
Organised by the Ministry of Mines and Steel Development, the theme of the Sixth Edition of the Nigeria Mining Week is: “Unlocking Nigeria’s Mining Potential through Collaboration.”
President Buhari, who was represented by Vice President Yemi Osinbajo, said that his administration’s vision for an industrialised nation would not be achieved without a vibrant steel sector.
He explained that it was for this purpose that his administration has worked to resolve all the issues constraining the full operation of the Ajaokuta Steel Complex in Kogi State.
“We understand the huge demand for steel and iron in our domestic markets and across the sub-region.
“This is why we prioritised the resolution of all the issues constraining the full operation of the Ajaokuta Steel company.
“To this end, a transaction adviser has been appointed to concession the Ajaokuta Steel Company and the Nigerian Iron Ore Mining Company Itakpe.
“The selection process is ongoing. Our commitment is to break the jinx and actualize the dream of a vibrant steel sector.”
Changing indices
According to President Buhari, the indices of development in the sector are rapidly changing, resulting in increased revenue generation and investment interest in the sector.
“Nigeria, for the first time, has a world-class gold mine in Segilola, Osun state, operated by Thor Exploration.
“Also, Eta Zuma Mining and Industries Limited, Mosra Enerji are mining and supplying the coal needs of Dangote and Bua Cement factories.
“In the steel industry, African Natural Resources and Mines Limited, owners of the Kagarko Integrated Steel plant, is about to produce liquid Steel from its Iron ore mine in Kaduna State.”
President Buhari added that several other investors are at different stages of my development in various parts of Nigeria.
He expressed hope that these strategic milestones would leverage more mining investment in the country.
“I firmly believe that the sector, when fully developed, will outstrip other sectors of the economy in export earnings, and the creation of good paying jobs and opportunities.
“Besides, it will stimulate industrial growth as a local source of raw materials and improve the quality of lives in rural communities,” the president stated.
Pointing out that his administration has designed and followed a comprehensive road for the growth and development of the Nigerian mining sector, President Buhari said that his administration has committed more resources to the development of the mining sector than any other government in the history of the country.
Thematic activities
President Buhari listed what he described as thematic activities of the Ministry of Mines and Steel Development and other stakeholders in providing a conducive environment for investment in the sector.
One of these activities is the deployment of a digital application at the Mining Cadastre Office, Abuja, and its offices in the six geo-political zones of the country for the grant and administration of mining titles.
“Of great interest also is the escalation of geological information gathering, data storage, and dissemination. This has led to increased mineral finds across the country and the issuance of exploration licenses to miners.
“We must also appreciate the return of the geological data generated in Nigeria during the pre-independence era by the British Geological Survey Agency. The availability of these data in the recently established National Geodata Center at the Nigerian Geological Survey Agency is a big boost to the sector.
“The organisation of informal miners into productive work groups is another landmark activity.
“The Ministry has increased the formalisation of mining activities and stimulated downstream development by the establishment of gemstones and Jewellery Marketing Centre in Oyo State, a Gold Ore processing plant in Kogi State, a Gold Souk in Kano State, and the construction of a Barite, plant in Cross Rivers State,
Kaoline Plant in Bauchi and a Lead/Zinc Processing Plant in Ebonyi State.
He said these clusters are aimed at providing direct and indirect economic opportunities for many Nigerians.
Minister of Mines and Steel Development, Olamilekan Adegbite, said the ministry has worked to crystallize various strategies to address the lack of geological data, weak institutional capacity to govern the sector, low revenue generation, informal mining, community issues, and protracted litigation on the national steel assets.
He said the “unprecedented support and direction” President Buhari and the National Assembly gave the ministry has enabled it to achieve some achievements that have defined a growth trajectory for the Nigerian mining sector.
The President of the Senate, Ahmad Lawan, represented by the Chairman Senate Committee on Mining, Tanko Al-Makura, said mining is a key revenue alternative, calling for increased investments in the sector.
In his goodwill message, the Acting President of the Miners’ Association of Nigeria, Musa Muhammad said that, for the past six years, the Nigeria Mining Week has provided a platform to critique the national mining challenges, stages of development, potentials, and emerging opportunities.
Dominica Nwabufo
