The Nigerian government is poised to inaugurate six mineral centres across various zones of the country, in a concerted effort to elevate the mining industry. In an interview with the News Agency of Nigeria (NAN) on Sunday, the Minister of Solid Minerals Development, Dr. Dele Alake, disclosed this upcoming development.
Dr. Alake underscored the significance of this initiative, highlighting the dedication of President Bola Tinubu’s administration to diversifying the nation’s economy. The establishment of these centres aims to enhance the value of mineral resources, thereby generating a cascading impact on the economy.
The plan to establish these mineral centres is a deliberate strategy to address the issue of uneven distribution of mineral resources nationwide. Dr. Alake acknowledged the widespread presence of these resources and emphasized the necessity to strategically position the processing centres across the zones.
In addition to the establishment of the mineral centres, the government has also devised a new policy to ensure optimal benefit from the extraction of minerals in Nigeria. Dr. Alake expressed concern over the loss incurred from investors simply extracting raw mineral resources without adding any value. He referenced lithium, a valuable mineral accompanied by elements such as nickel, cobalt, and copper.
Under the new policy, investors will be required to present a comprehensive plan for local value addition in order to obtain approval for their operations. This includes processing minerals within Nigeria to generate a multiplier effect on the economy, such as local employment, technology, and skills transfer.
Moreover, this initiative aligns with the government’s ambition to domestically produce Electric Vehicle (EV) batteries, with lithium being a pivotal component. Dr. Alake highlighted that the local value addition policy has garnered support from other African nations striving to develop their local economies in a similar fashion.
Earlier this year, information from the Minister of Science and Technology outlined plans to establish an indigenous lithium battery factory in Nigeria. The objective of this endeavor is to reduce the country’s reliance on foreign production and promote the local manufacturing of essential energy storage components.
The African Development Bank (AfDB) has also recognised Nigeria’s potential to lead lithium-ion battery manufacturing in Africa. This is bolstered by the discovery of over 3,000 lithium pegmatite bodies in the country, rendering the prospect of lithium-ion battery production a viable one.
These collective initiatives by the Nigerian government underscore a pivotal stride towards leveraging the nation’s mineral resources to propel economic growth and technological advancement. The establishment of the mineral centres and the formulation of the new policy epitomize Nigeria’s commitment to nurturing a sustainable, value-added mining sector.