Attracting Local and Foreign Investors to Nigeria’s Solid Minerals Sector
The Honourable Minister of Solid Minerals Development, Mr. Dele Alake, recently made an announcement regarding the surge of interest in Nigeria’s solid minerals sector within the first three months of his administration. Both local and international investors have shown a keen interest, underscoring the importance of this growth. Mr. Alake also emphasized the significant role of the Council of Nigerian Mining Engineers and Geoscientists (COMEG) in ensuring the success of this sector.
During his address at the 13th Induction ceremony of COMEG in Abuja, Mr. Alake highlighted the current global demand for a transition towards sustainable and clean energy sources. He emphasized that Nigeria is richly endowed with the minerals and metals necessary to support this global transition, positioning the nation as a crucial player in the global market. However, he stressed the need for Nigeria to shift its focus from reliance on oil to the development of its solid minerals sector for economic diversification and sustainability.
Mr. Alake further urged professionals in the solid minerals sector, particularly mining engineers and geoscientists, to recognize the critical role they play in the exploration, exploitation, and processing of these resources. He emphasized the technical nature of their work and the need for continuous knowledge expansion to contribute to the success of the sector and ultimately, Nigeria’s GDP.
The Minister also highlighted the government’s reliance on the expertise and professionalism of COMEG members to attract investors to the solid minerals sector. He stressed their importance in providing visibility studies, development, and exploitation activities that add value to potential investments. Mr. Alake emphasized the need for these professionals to play their roles effectively, as their actions can influence investor decisions and impact Nigeria’s reputation in the global market.
In an effort to ensure the integrity of the sector, Mr. Alake announced that moving forward, the Ministry of Solid Minerals will only recognize mining engineers or geoscientists who have been previously recognized by COMEG. This decision aims to enhance the quality and standards within the sector, attracting more credible and serious investors.
The Minister’s address underscored Nigeria’s solid minerals sector’s importance in the global energy transition and economic diversification. His call for the recognition and support of professionals in this field serves as a reminder of their vital role in the country’s sustainable development.
As Nigeria positions itself as a key player in the global market for energy minerals and metals, the importance of refining and promoting its solid minerals sector cannot be overstated. With the support and dedication of professionals, such as the members of COMEG, the nation is well-positioned to attract the much-needed local and foreign investments to drive economic growth and development.
