Unlocking Nigeria’s Mining Potential: The Power of Public-Private Partnership
Chris Omo-Osagie, the Chief Financial Officer of Thor Explorations Limited, has underscored the importance of the federal government utilizing public-private partnerships as a catalyst to unlock Nigeria’s mining potential. Omo-Osagie emphasized the significance of establishing the necessary infrastructure and expressed his belief in Nigeria’s capability to elevate the mining industry through strategic planning, collaborative alliances, investment promotion, and infrastructure development.
During the recent Nigerian Mining Week, organized by Vuka Group in Abuja, Omo-Osagie expressed his enthusiasm for the Minister’s strategic vision and the promising future of Nigeria’s mining industry. He stressed the critical role of partnerships in unlocking the country’s vast mining potential.
The event, themed ‘Capitalizing on Nigeria’s Critical Mineral Resources for Economic Growth’, brought attention to the pivotal role of Segilola Resources Operating Limited (SROL) in Nigeria’s mining landscape. SROL is an exploration and gold mining company that controls Nigeria’s inaugural commercial large-scale gold mine called the Segilola Gold Mine.
Dele Alake, Minister of Solid Minerals Development, reaffirmed the government’s commitment to elevating solid minerals to a paramount status, surpassing the contribution of crude oil to the nation’s Gross Domestic Product (GDP). He stressed the need for meticulously crafted methodologies, strategies, and efficient approaches to ensure the comprehensive exploration, exploitation, and management of valuable resources.
Austin Menegbo, Country Manager of SROL, also expressed the firm’s dedication to operational excellence, delivering substantial shareholder returns, maintaining a social license to operate, and making significant environmental contributions within their operational regions. He encouraged other partners to explore opportunities in the gold sector and expressed his belief in a thriving future for gold mining in Nigeria.
Omo-Osagie’s call for the government to leverage public-private partnerships as a catalyst for unlocking Nigeria’s mining potential aligns with the broader aim of driving economic growth and development in the country. With the nation possessing an abundance of highly sought-after critical minerals, the strategic collaboration between the government and private entities can propel the mining industry to new heights.
The recognition of the role played by SROL in the development of Nigeria’s mining sector further highlights the importance of private investments in contributing to the country’s economic growth and resource management. As public-private partnerships continue to be championed as a catalyst for progress, the future of Nigeria’s mining industry holds great promise.
In conclusion, the collaborative efforts of the federal government and private entities, as advocated by Omo-Osagie and other industry leaders, can pave the way for unlocking Nigeria’s mining potential and driving sustainable economic development. The establishment of strategic partnerships and investment promotion in the mining sector will be instrumental in realising the nation’s vision for a thriving and prosperous industry.
