Mining Week: Era Of Exporting Raw Minerals is Over, Says Tinubu

…Minister sets Agenda for Sector Development

Folalumi Alaran in Abuja

President Bola Tinubu has said the era of exportation of raw minerals like gold, lithium, and similar resources from the county is over.

Speaking at the on going Nigeria Mining Week, President Bola Tinubu, who was represented by Secretary to the Government of the Federation (SGF), George Akume, added that many companies in Nigeria have already adjusted their business plans to this new normal and his administration hopes others are encouraged to do the same.

The president expressed commitment of the administration to make solid minerals rival oil in revenue generation and foreign exchange earnings for the country, promising to support the ministry in making this a reality.

In his keynote address the Minister of Solid Minerals Development, Dele Alake, has outlined the Seven-Point Transformation Agenda of the ministry to boost the Nigerian mining sector and diversify the country’s economy.

Dr. Alake said the agenda includes the establishment of the national mining company, the development of big, standardized and internationally certified data, the formalization of artisanal mining through co-operatives, the security of mines in collaboration with the security agencies, the conscientisation of mining communities to ensure their lawful rights and commit licenses to community empowerment and the development of mineral processing and beneficiation plants.

He commended President Tinubu for his unwavering commitment to the development of the mining sector as a significant source of economic diversification and his vision of national reformation through economic revival. He said the president’s agenda for change, ‘Renewed Hope’, has inspired the ministry and the participants of the event.

The Nigeria Mining Week is an annual event that brings together stakeholders in the mining industry, including policy makers, investors, operators, service providers, academics and civil society. The event aims to showcase the potentials and opportunities in the Nigerian mining sector and foster collaboration and partnerships for its growth and development.

He also expressed his appreciation for the extraordinary enthusiasm and collaboration of all the critical stakeholders of the mining sector in embracing and implementing the agenda.

The minister said Nigeria, endowed with an abundance of mineral resources, is set for a great leap of transformation if it manages these resources judiciously and responsibly.
He noted that the government has worked diligently to streamline regulatory processes, create an attractive investment climate, and instill confidence in domestic and international investors.

He also said that these efforts have resulted in strategic partnerships that recognize the immense potential within Nigeria’s borders. He added that these partnerships will be pivotal in building a sustainable and globally competitive mining industry.

Alake further assured the stakeholders that the Ministry of Solid Minerals is wholeheartedly dedicated to advancing the mining sector in Nigeria. He said that the ministry is actively addressing the historical challenges that have hindered the sector’s progress, including infrastructure deficits, inadequate geological data, and the emerging imperative needs for modern mining.

He added that the ministry’s ongoing efforts also encompass improving the ease of doing business within the sector, enhancing transparency, and enforcing regulations that protect the interests of investors, the environment, the mining host community, and gender issues.

He also emphasized that the government will promote beneficiation and value addition in the mining sector as the essential principle of mineral development.

He stated that by adding value to the raw materials through processes like refining, processing, and manufacturing, the government will create higher-value products, generate employment opportunities, increase the sector’s profitability, enhance the global competitiveness of Nigeria’s mineral products, foster innovation and technology transfer, and ensure equitable and sustainable distribution of wealth.

Alake also emphasized that the Ministry of Solid Minerals Development is paying attention to issues of gender sensitivity and compliance to child rights in the mining sector. He said that the ministry is collaborating with various non-governmental organizations, such as Women in Mining in Nigeria (WIMIN) and Global Rights Nigeria, to address the challenges and opportunities for women and children in the sector.

He further revealed that the government has invested over N15 billion in the past seven years in generating geo-science data through the National Integrated Mineral Exploration (NIMEP) Project. He said that the preliminary reports from this project have unraveled massive discoveries that have put Nigeria on the world map of lithium-rich countries.

He added that the Director-General of the Nigeria Geological Survey Agency (NGSA), Dr. Abdulrazaq Garba, will present a synopsis of these new geological discoveries leading to the unveiling of a new set of geological maps of Nigeria.

Alake expressed his boundless optimism regarding the future of Nigeria’s mining industry. He said that together, Nigerians possess the collective potential to transform their nation’s mineral wealth into a source of unprecedented prosperity and development.

“Our vision for the mining sector transcends mere resource extraction. We are firmly committed to conducting mining activities that are economically 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. “

“As we convene here today, I want to assure you that the Ministry of Solid Minerals is wholeheartedly dedicated to advancing the Mining Sector in Nigeria. We are actively addressing the historical challenges that have hindered our progress, including infrastructure deficits, inadequate geological data, and the emerging imperative needs for modern mining. Our ongoing efforts also encompass improving the ease of doing business within the sector, enhancing transparency, and enforcing regulations that protect the interests of investors, the environment, the Mining Host Community, and Gender issues.” the Minister emphasized.