Boosting Nigeria’s Economic Growth: The Importance of AI and Infrastructure Investment
Uba Maigari Ahmadu, the Minister of State for Mines and Steels Development, recently emphasized the critical importance of infrastructural investment and the utilization of artificial intelligence to drive sustainable economic growth and attract more investors in Nigeria. His remarks were delivered during the 5th annual conference of the National Council on Mining and Mineral Resources Development (NCMMRD) held in Ilorin, the capital of Kwara State.
The conference, centered around the theme “Minerals and Metal: Panacea for Economic Growth and Diversification”, provided a platform to address the challenges and opportunities in the sector. Ahmadu underscored the significance of the steel sector in creating employment opportunities, empowering communities, and fortifying the economy. He urged stakeholders, encompassing miners, manufacturers, investors, policymakers, researchers, citizens, and businessmen, to converge in a collective national effort to rejuvenate the steel industry.
Governor Abdulrahman Abdulrazaq of Kwara State also highlighted the state’s mining potential, emphasizing the abundance of viable mineral resources across its 16 local government areas. The governor welcomed investors to explore these natural endowments and unveiled the government’s plans to establish a standard mineral market in the state for the registration and transportation of minerals.
Additionally, he recognized President Bola Ahmed Tinubu’s endeavors to diversify the country’s economy and stressed the imperative need to reduce dependence on oil. Abdulrazaq implored the ministers and other attendees to lend their support to the state’s vision of becoming a significant producer of solid minerals in Nigeria.
The state commissioner for Solid Mineral Development, Abdulqowiyu Olododo, reiterated the government’s dedication to advancing solid minerals and ensuring the protection of investors within the state’s borders. He emphasized collaboration with security agencies and the creation of a framework to facilitate mining activities, all while complying with federal regulations.
Ahmadu’s call to embrace technology, invest in critical infrastructure, and engage in transparent regulation aligns with the overarching objective of driving economic growth through sustainable means. Nigeria has historically relied on oil as its primary source of revenue, but the recent emphasis on diversification and the development of other sectors presents a promising outlook for the country’s economic transformation. With concerted effort from both the government and private sector, alongside the support of international investment, Nigeria can position itself as a diversified economic powerhouse.
The discussions and commitments made at the NCMMRD conference can serve as a blueprint for the development of the mining and mineral resources sector. It is imperative for stakeholders to translate discussions into concrete actions that will contribute to the shared prosperity and widespread distribution of Nigeria’s mineral wealth. This collective effort will not only benefit the economy but also foster a more inclusive and robust growth trajectory for the nation.
