The Importance of the Minerals and Metals Sector in Nigeria’s Economic Growth
The recently concluded 5th Council on Mining and Minerals Resources Development (NCMMRD) in Ilorin, Kwara State, from January 15 to 17, 2024, saw the Minister of State for the Ministry of Steel Development, Uba Ahmadu, emphasise the critical role of the minerals and metals sector in propelling Nigeria’s economic growth.
During his address, Ahmadu underscored the significance of the council as a platform for stakeholders to establish partnerships and devise strategies to advance Nigeria’s minerals and metals ambitions into actionable initiatives. He highlighted the economic necessity and national imperative of a robust minerals and metals industry, citing its contributions to job creation, community empowerment, and the foundation for a self-reliant, diversified economy.
Expressing confidence in the sector’s potential, Ahmadu urged stakeholders to move beyond dialogue and take tangible actions to unlock its vast potential. This sentiment was echoed by the governor of Kwara State, Abdulrahman Abdulrazaq, who stressed the need to diversify the economy and harness the potential of the minerals and metals sectors.
Abdulrazaq revealed plans to register special purpose vehicles (SPVs) and establish a standard mineral market in the state, seeking support from government agencies to position Kwara State as a major minerals and metals producing state, given the abundance of viable mineral resources across its 16 local government areas.
Dr. Mary A Ogbe, the permanent secretary of the Ministry of Solid Minerals Development and Ministry of Steel Development, expressed gratitude to the government of Kwara State for hosting the council and affirmed the ministries’ commitment to implementing the recommendations reached at the event. The Kwara Commissioner for Solid Minerals Development, Abdulguawiy Olododo, also extended a warm invitation to investors, highlighting the state’s favourable business environment and collaborative efforts with security agencies.
In conclusion, the council on Mining and Minerals Resources Development was a pivotal forum for stakeholders to acknowledge the importance of the minerals and metals sector in driving Nigeria’s economic growth and formulating strategies to harness its potential. The dedication of government officials, industry leaders, and other key stakeholders bodes well for the future of the minerals and metals industry in Nigeria.
