Nigeria’s Commitment to Supporting the Growth of the Mining Sector
The official launch of the eighth edition of Nigerian Mining Week took place on Monday, with President Bola Tinubu providing assurances to investors in the mining sector of support for the growth and development of the industry. The event, held in Abuja, drew attendees from a wide array of investors, companies, and exhibitors from various parts of the world.
Represented by the Secretary of the Government of the Federation, Senator George Akume, President Tinubu emphasized that the Nigerian Mining Week serves as more than a mere conference and exhibition. It is, instead, a unique platform designed for the global mining community to showcase the potentials of the Nigerian mining industry and the vast opportunities it presents to global investors.
The carefully chosen theme for this year’s event, ‘Capitalizing on Nigeria’s Critical Mineral Resources for its Economic Growth’, highlights the significant progress being made in the mining sector and reaffirms the commitment of the Federal Government of Nigeria to supporting investors in the industry. President Tinubu also highlighted the impact of solid reforms that have revitalized the mining sector over the past 17 years, such as the unbundling of the Ministry of Mines and Steel Development into the Ministry of Solid Minerals Development and Ministry of Steel Development, demonstrating the government’s commitment to industrialization and increased revenue generation.
President Tinubu also disclosed the government’s intention to end the exportation of raw solid minerals by implementing policies that promote the exportation of finished products, thereby creating employment opportunities for the nation’s youth. He further pledged to utilize every mineral resource to drive industrialization in Nigeria and capitalize on the recent discoveries of strategic minerals, such as lithium, which are found in many states across the country.
The President affirmed his administration’s intentional efforts to open up the solid minerals and steel sectors to local and foreign investments, assuring stakeholders of the government’s commitment to providing an enabling environment for business activities and delivering the dividends of good governance at all levels.
The Minister of Steel Development, Shuaibu Audu, emphasized the transformative potential of the solid minerals and steel sectors in diversifying Nigeria’s economy and attracting foreign direct investment. He outlined strategic initiatives aimed at revitalizing the steel industry, creating jobs, and stimulating economic growth in the country.
The President of the Miners Association of Nigeria, ‘Dele Ayanleke, highlighted the growing interest in the solid minerals sector from various state governments and the need to address constitutional and legal challenges to accelerate the growth of the industry. He stressed the importance of leveraging Nigeria’s vast mineral resources to contribute to the global energy transition and promote the diversification of the national economic space.
In conclusion, the Nigerian government’s commitment to supporting the growth and development of the mining sector is poised to attract significant investments and drive economic transformation. The initiatives and collaborative efforts shared at the Nigerian Mining Week underscore the immense potential of Nigeria’s mineral resources and the opportunities for sustainable development in the industry.
