Foreign Exploitation: NIPSS Plans Summit to Revitalize Nigeria’s Mining Industry

The National Institute for Policy and Strategic Studies (NIPSS) has expressed deep concern regarding the exploitation of Nigeria’s mineral resources by foreign entities, highlighting insufficient regulations and oversight as the primary contributing factors. In a press conference held in Abuja, Director General Ayo Omotaya announced plans for a 2-day Summit on sustainable development in the mining industry, emphasizing the necessity to reposition the solid minerals sector for the benefit of the national economy.
Omotaya stressed the urgency of addressing the challenges facing the mining sector, acknowledging that foreign parties and illegal elements have capitalized on the lenient regulatory environment to exploit the country’s mineral wealth. While recognizing the government’s prior efforts in addressing these issues, he emphasized the need for more comprehensive measures to fully harness the sector’s potential.
The main objective of the forthcoming Summit is to provide a platform for stakeholders in the mining industry to engage in meaningful discussions and develop strategies for sustainable development. This encompasses a critical examination of existing policy and regulatory frameworks, environmental impact assessments, the integration of modern technologies, and the promotion of local expertise to drive the sector forward.
Furthermore, the Summit will address the necessity of securing mining sites, attracting foreign investment, and gaining support from local communities. Omotaya underscored the importance of bringing together industry practitioners, government regulators, academia, and investors to collaborate on actionable recommendations and implementation strategies.
The Summit is scheduled to take place on 29th and 30th of April, 2024, and all stakeholders are urged to prioritize their attendance, recognizing the significant role they play in the national emancipation through the revitalization of the mining industry.
Former minister of information, Alhaji Lai Mohammed, also expressed his commitment to the mining sector, acknowledging its potential to positively impact the nation’s economy. He emphasized the President’s recognition of mining as a key sector for economic revitalization.
The upcoming Summit serves as a crucial platform for shaping the future of Nigeria’s mining industry, and it is essential for all relevant parties to actively participate in this endeavor for the betterment of the nation.