The Nigerian Government has signaled its intention to diversify the economy by shifting its attention to the mining sector, in an effort to reduce dependence on oil and promote the exploration of solid minerals. This announcement was made by the Minister of Solid Minerals Development, Dr. Oladele Alake, during the 8th edition of the Nigeria Mining Week held in Abuja.
The Mining Week Conference, organized by the Miners Association of Nigeria in collaboration with the Ministry of Solid Minerals Development, PricewaterhouseCoopers (PWC), VUKA Group, and Mining Review Africa, has garnered global attention and support for the nation’s mining sector.
In his closing remarks, Dr. Alake highlighted the confidence and support of President Bola Tinubu in the government’s efforts to develop the solid minerals sector. He emphasized that the vision of the President is not only for the benefit of Nigeria but also for Africa and the entire world.
Regarding funding, the Minister reassured stakeholders that the Nigerian government is committed to increasing investment in the minerals sector to facilitate its overall development. He emphasized the importance of generating accurate and comprehensive data to attract local and international investors. This investment in big data generation will enable informed decision-making and support effective policy implementation.
Dr. Alake also addressed security concerns and the need to create a peaceful operating environment for licensed operators. The government is working on a robust security architecture, incorporating the use of technology to reduce conflicts between operators and host communities, as well as to streamline relationships with other levels of government. The aim is for the mining sector to make a meaningful and significant contribution to Nigeria’s GDP and become a critical resource for the country’s economic survival.
The President of the Miners Association of Nigeria, Mr. Dele Ayanleke, expressed optimism that the conference would revitalize the solid minerals sector. He encouraged participants to reflect on the knowledge gained during the event and use it to add value to their individual ventures and the national economy.
Highlighting the importance of funding, Cyril Azobu, the Partner and Mining Leader at PWC Nigeria, emphasized that increased funding is necessary to boost activities within the mining sector. Azobu stressed the significant role that small-scale miners play in poverty alleviation and rural development, calling for stronger policies to support and protect their operations.
The theme of this year’s Nigeria Mining Week, “Capitalising on Nigeria’s Critical Mineral Resources for Economic Growth,” underscores the country’s commitment to harnessing its mineral wealth for sustainable economic development.
