Nigerian Investors Abroad: The Key To Transforming Nigeria’S Mining Sector
Dele Alake, The Minister Of Solid Minerals Development, Is All About Getting Nigerian Investors In The Diaspora Involved In Transforming The Mining Sector. He’S Convinced That These Investors Are Essential Partners In Unlocking The Financing And Technical Capacity Needed To Make A Real Change.
Alake Made This Clear On Monday At A Meeting With Diasporan Investors Led By Abike Dabiri-Erewa, Chairman Of The Nigerians In Diaspora Commission (NIDCOM). He Stressed That With The Decline In Oil Revenue And The Global Shift To Clean Energy, Focusing On The Solid Minerals Sector Is Crucial For Nigeria’S Economic Survival.
According To Alake, The Neglect Of Other Sectors Due To The Easy Flow Of Oil Revenue Has Turned Nigeria From A Producing Nation To A Consumer Country. He Believes That The Consequences Of This Neglect Have Led To A Decline In Social Values Caused By The Free Flow Of Money.
The Minister Highlighted Two Major Reasons For Shifting Attention From Oil To The Mining Sector. First, The World Is Moving Away From Fossil Fuels, And If Nigeria Doesn’T Follow Suit, It Could Face Economic Hardship In The Near Future. Second, With The Global Focus On Reducing Hydrocarbons And Combating Global Warming, Nigeria Must Join The Push For Clean Energy By Tapping Into Its Abundant Solid Minerals.
Alake Encouraged Nigerian Investors To Invest In The Mining Sector, Emphasizing The Abundance Of Critical Minerals Like Lithium And Gold Across The Country. He Also Reiterated The Government’S Commitment To Ensuring Local Value Addition By Prospective Mining Operators.
In A Call To Action, Alake Urged Diasporan Investors To Collaborate With The Government, Assuring Them That The Government Is Dedicated To Ensuring Local Value Addition By Prospective Mining Operators. He Emphasized The Need For Investors To Set Up Factories, Refine, And Produce Within Nigeria, Ensuring That The Country Benefits From Their Investments.
The Minister Also Pointed Out That Advanced Countries Have Reached Their Current Status Through Meticulous Planning, Execution, And Sacrifice By Previous Generations. He Urged The Present Nigerian Generation To Make The Necessary Sacrifices For The Country’S Future Generations, Emphasizing Nigeria’S Potential In Terms Of Climate, Human Resources, And Material Wealth.
Alake Expressed Confidence In The Current Leadership, Stating That Nigeria Now Has A Leader With The Vision, Knowledge, And Courage Needed For Progressive Leadership. He Believes That This Has Brought Renewed Focus And Visibility To The Mining Sector.
To Improve Security And Create A Conducive Environment For Investors, Alake Mentioned The Development Of A New Security Architecture With Advanced Technology And Inter-Agency Collaboration.
The Minister Also Highlighted The Signing Of A Memorandum Of Understanding (MOU) With GeoScan Ltd, A German Company, To Deploy Advanced Technology For Exploring Solid Minerals Up To 10,000m Underground With Zero Net Environmental Impact. This Partnership Aims To Provide Investors With Valuable Geo-Data For Informed Investment Decisions.
Alake Informed Nigerian Investors That The Mining Ministry, Along With The African Finance Corporation (AFC) And The Solid Minerals Development Fund (SMDF), Is In Discussions To Raise Funds For The Mining Industry. He Assured The Investors That A Regulatory Framework Is Being Prepared To Create An Enabling Environment For Prospective Investors.
At The Meeting, Abike Dabiri-Erewa Commended Alake For The Ongoing Reforms In The Mining Sector And Emphasized The Investors’ Need For An Enabling Environment. She Also Highlighted President Bola Tinubu’S Commitment To Diversifying Nigeria’S Economy, Expressing Optimism About The Growth Of Investments In The Mining Sector.
Ali Garuba, Speaking On Behalf Of The Nigerians In Diaspora Investors, Expressed Excitement About The Reforms And Renewed Interest In The Sector. He Emphasized The Potential For Africans, Especially Those In The Diaspora, To Leverage Their Community To Develop The Mining Sector And Create Employment Opportunities.
The Investors, Part Of The Delegates Of The 6th Nigeria In Diaspora Investment Summit (NDIS), Are Eager To Contribute To The Vision Of Making Solid Minerals The Largest Contributor To Nigeria’S Economy. They See Mining As An Opportunity To Train And Invest, Create Jobs, And Inspire Entrepreneurship, Ultimately Contributing To The Growth Of The Middle Class In Nigeria.
In Conclusion, The Involvement Of Nigerian Investors In The Diaspora Is Seen As A Game-Changer For The Mining Sector, With The Potential To Drive Economic Growth And Create Sustainable Employment Opportunities. The Commitment Of The Government, Combined With The Enthusiasm Of Diasporan Investors, Signals A Positive Shift Towards A Thriving Mining Industry In Nigeria.