Investment into Minerals Sector Urged by Stakeholders
Stakeholders in Nigeria’s minerals and metals sector are urging the Federal Government to take decisive action by issuing an executive order to prohibit the exportation of lithium and other energy minerals in their raw form. These pressing concerns were raised during the 5th National Council on Mining and Mineral Resources Development (NCMMRD) meeting held in Ilorin, Kwara State. The event saw an attendance of over 100 industry professionals, representing various entities such as the Miners Association of Nigeria, Ministry of Solid Minerals Development, law enforcement agencies, and state representatives.
At the meeting, stakeholders put forward several key recommendations aimed at propelling the solid minerals sector towards sustainable development. These recommendations included the necessity for regular reviews of royalties on lithium and other energy transition minerals, the empowerment and adequate funding of relevant Ministries, Departments and Agencies (MDAs) for effective operation, and the introduction of targeted incentives specifically for lithium miners to attract investors and ensure quicker investment payback periods. The pivotal role of collaboration between the government, industries, operators, and academia in the lithium business was also emphasized, along with the crucial need for infrastructure development to facilitate mining operations.
In order to tackle illegal mining activities, stakeholders proposed amendments to the Minerals and Mining Act of 2007 and the Nigerian Minerals and Mining Regulations of 2011. These proposed amendments included strategies such as the enforcement of existing laws, establishment of special courts for illegal mining trials, enhanced surveillance and monitoring of mine fields, community engagement, and public awareness campaigns. Furthermore, stakeholders recommended enhancing collaboration between federal, state, and local governments, strengthening and adequately funding the Mineral Resources Environmental Management Committee (MIREMCO), and ensuring proper funding of the Special Mines Surveillance Taskforce (SMSTF) to combat illegal mining and reduce environmental degradation. Additionally, they called for a review of constitutional and legal provisions related to mining, including section 44 of the Nigerian Constitution of 1999 and the Nigerian Minerals and Mining Act of 2007.
In conclusion, stakeholders urged the Ministry of Solid Minerals Development to recognize and support the established Mines Police of the Nigerian Police Force and facilitate the acquisition of Small Scale Mining Leases (SSML) for formalized artisanal and small-scale miners.
The recommendations put forth by the stakeholders hold great significance, as they provide a roadmap for the development of the minerals and metals sector in Nigeria. It is imperative that the Federal Government gives serious consideration to these proposals to ensure sustainable growth and development in the country’s solid minerals industry.
