3 days ago
1
The federal government has stated that it is establishing structures to support a mining sector capable of competing on the global stage.
The permanent secretary of the Ministry of Solid Minerals Development, Dr Mary Ogbe, made this comment on Monday, the opening day of the 9th edition of Nigeria Mining Week, which began in Abuja on Monday.
Speaking on the topic: Overview Of The Nigerian Mining Sector Legal And Regulatory Framework And Policies For Nurturing Local Content In Mineral Exploration And Mining In Nigeria, Dr Ogbe said Nigeria was undertaking a transformative journey in its Mining Sector marked by bold.
Policies, groundbreaking regulations, and strategic initiatives that are reshaping our nation’s economic landscape.
She said: “We are not merely refining an industry; we are building a resilient and inclusive mining powerhouse that taps into the vast potential of our land and its people.
“Our approach is dynamic and uncompromising, laying the groundwork for a sector that not only competes on the global stage but also uplifts communities, nurtures local talent, and drives Nigeria’s sustainable future forward. Each step we take, each policy we craft underscores a deep-seated commitment to value creation and a forward-thinking vision that redefines what mining can mean for Nigeria.”
She stated that under the leadership of the Minister, Dr. Henry Dele Alake, the ministry introduced a seven-point Agenda designed to transform Nigeria’s mining sector into a powerhouse of economic growth and development.
She listed the core aspects of the seven-point agenda, which include data gathering, mine surveillance, community engagement, environmental sustainability, and robust enforcement mechanisms that strengthen our sector’s operational integrity.
The permanent secretary further highlighted the country’s insistence on value addition, which mandates that every applicant for a mining lease submit a value addition plan as a prerequisite for issuance.
“This policy shift marks a fundamental departure from our reliance on raw mineral exports, as we now emphasise in-country processing to maximise economic benefits, create jobs, and support local industries,” she said.
She mentioned some of the said policy directions to include: the Energy Transition Minerals Development Policy (2023) which highlights Nigeria’s commitment to sustainable energy and its critical role in the global supply of renewable energy minerals like lithium, cobalt, and nickel; the Nigerian Mineral Value Chain Regulation (2021) which promotes in-country beneficiation, fostering industrial growth, employment, and reduced reliance on raw material exports, and a review of the 2007 Nigerian Minerals and Mining Act which aims to align with international best practices, enhancing transparency, sustainability, and competitiveness in the mining sector.
There is also the revised Community Development Agreement (CDA) framework (2023), in collaboration with CENTRE LSD, which mandates collaboration between mining operators and local stakeholders, ensuring fair benefits, transparency, and resource governance for host communities.
She urged stakeholders to collaborate in realising the sector’s potential as a cornerstone of Nigeria’s diversified economy.
For her part, the director of Investment Promotion and Mineral Trade in the Ministry, Dr Esther N. Udo, described the 2024 edition of Nigeria Mining Week as a premier platform for advancing the collective vision of transforming Nigeria’s mining sector into a global powerhouse.
Speaking on “Development Strategies For Collaborating With Mineral Title Holders To Promote Their Mineral Assets,” she said the ministry had prioritised value addition, robust mines surveillance, strategic data generation on critical minerals, and creating a transparent and investor-friendly environment.
“These initiatives are laying the groundwork for a mining sector capable of becoming the cornerstone of Nigeria’s economic transformation.
“This year’s theme, ‘From the Inside-Out: Building the Mining Sector to be the Cornerstone of Nigeria’s Economy’ could not be more fitting. It underscores our commitment at the Ministry of Solid Minerals Development, under the visionary leadership of the Minister, Dr. Dele Alake, to ensure that the vast wealth beneath our soil translates into tangible benefits for our people.”
She outlined the Ministry’s strategies for collaborating with mineral title holders to promote their assets, including Creating platforms for stakeholder dialogue and feedback, driving policy reforms for clarity and investment attraction, empowering title holders with cutting-edge geological data, facilitating partnerships and buy-out opportunities, and ensuring security and responsible mining practices.
The 2024 edition of Nigeria Mining Week will last three days and has local and foreign mining stakeholders in attendance.
English (US) ·