Empowerment Through Mineral Licences: Government Initiative in Nigeria
The Federal Government of Nigeria, operating under the auspices of the Ministry of Solid Minerals Development, has taken a significant stride in empowering its citizens through the approval of 499 licences for the trading of solid minerals in 2023. This important announcement was delivered by the Minister of Solid Minerals Development, Dele Alake, during the BusinessDay Solid Minerals Conference in Abuja.
A discernible pattern was observed whereby there was a substantial demand for lithium, as evidenced by the allocation of 146 licences for its trade, surpassing other minerals such as gold, tin, and coal. The list of sanctioned licences also encompassed tantalite, iron ore, kaolin, feldspar, beryl, barite, columbite, mica, and aquamarine.
Moreover, the Federal Government disclosed its intention to retain approximately 25% of the N1 billion share capital of the Nigerian Solid Minerals Corporation, while also providing avenues for public and private investment in the corporation. The process of formulating the legislation for the establishment of the corporation has already been initiated, with a view to ensuring sustainable operations and a share structure in accordance with a private sector-led strategy.
Furthermore, a concerted effort has been made to combat illegal mining by encouraging artisanal miners to establish co-operatives and receive official recognition from the government. This initiative has resulted in the registration of 123 mining co-operatives in 2023, underscoring a victorious campaign against illegal mining and a willingness among artisanal miners to collaborate with the Federal Government.
The Ministry of Solid Minerals Development has additionally authorised 986 purchasing centres across the 36 states of the Federation, with a focus on providing extension services and enhancing overall operations within the sector. Endeavours are also underway to enhance the Nigerian Mining and Minerals Act 2007, demonstrating a commitment to sustained growth and development within the industry.
The measures implemented by the Federal Government reflect a steadfast commitment to empowering its citizens through the solid minerals sector, ranging from the approval of licences for the trading of minerals to the establishment of the Nigerian Solid Minerals Corporation and the encouragement of artisanal miners to form co-operatives. This progress constitutes a positive stride towards sustainable development and expansion within Nigeria’s mineral industry.
