Unearthing the Hidden Wealth: FCTA’s Initiative in the Mining Sector

The Abuja Business Forum (Mining Sector) has unveiled a promising collaboration between the Federal Capital Territory Administration (FCTA) and the Ministry of Mines and Steels. The objective of this partnership is to unlock the untapped potential within the mining industry with the aim of strengthening Nigeria’s Gross Domestic Product (GDP) and promoting sustainable growth.

During the forum, Mr. Olusade Adesola, the Permanent Secretary of the FCTA, disclosed the plan to harness the extensive mineral resources within the capital region. Engr. Niyi Olaloye, the Director of Solid Minerals and Allied Matters, representing Mr. Adesola, emphasised the need to establish a cohesive strategy to unleash the abundant opportunities concealed within these resources.

Mr. Adesola recognised the substantial potential of Nigerian entrepreneurs and highlighted the role of the mining sector in addressing socio-economic challenges such as unemployment, poverty, and inequalities. This has led to the FCT Administration’s involvement in the Micro, Small, and Medium Enterprises (MSMEs) sub-sector, with the goal of creating jobs, generating wealth, and contributing to an inclusive society’s prosperity.

Mr. Adesola also stressed the significance of MSMEs in the national economy, citing their significant contributions to the GDP and their role as employers of 60 million people. By empowering the MSME subsector to effectively leverage the mineral resources in the FCT, rapid growth is anticipated. Over the years, the FCTA has developed various policies, programs, and interventions to support business growth, with a focus on creating a conducive environment for MSME development.

Aligning with the strategic focus on the mining sector, Shehu Abdulkadir, the CEO of the Abuja Enterprise Agency (AEA), emphasised the untapped potential within the industry and acknowledged public interest in this area. He highlighted that the decision to delve into the mining sector was motivated by the need to harness its considerable potential.

In addition, Ms. Mary Ogbeh, the Permanent Secretary in the Ministry of Mines and Steel, conveyed the necessity for Nigeria to seize the opportunities presented by the mining sector. Represented by Mr. Imeh Ogidigbo, a director in the ministry, Ms. Ogbeh underscored the need for unwavering determination and commitment to fully exploit the mining sector’s potential.