The Nigerian Mineral Resources Decision Support System (NMDSS) was officially launched by the Federal Government on Tuesday with the aim of improving the ease of doing business in the mining sector. The Minister of Solid Minerals Development, Dr Dele Alake, revealed that the primary purpose of the system is to provide potential investors with crucial information on Nigeria’s mineral deposits, mining sector policies, and investment incentives. This platform is also envisioned to facilitate communication and engagement between the government and stakeholders in the mining industry.
One of the key advantages highlighted by the minister is the cost-saving benefits for foreign investors who will now be able to access all necessary information without the need for travel and accommodation. Dr. Alake emphasized that the NMDSS will play a significant role in assisting interested investors in making well-informed decisions about the mining sector. Additionally, the system aims to bring stakeholders closer to the industry and provide valuable insights into mineral deposits and mining infrastructure.
The Minister also provided an update on efforts to regulate the mining sector, explaining that illegal mining activities are being addressed through the deployment of mining marshals, while over 150 cooperatives have been established by artisanal miners to formalize their operations in accordance with the Ministry’s agenda. Hon. Tunji Olubunmi-Ojo, the Minister of Interior, commended the Minister of Solid Minerals Development for his leadership and dedication, expressing confidence that the introduction of the NMDSS will significantly enhance the sector and attract increased foreign investments.
The Permanent Secretary of the Ministry of Solid Minerals Development, Dr. Mary Ogbe, emphasized the need for critical stakeholders in the mining sector and the wider Nigerian community to promote the country’s abundant solid minerals resources. She also underlined the ongoing reforms by the government, stating that these initiatives are progressively transforming the mining sector. The NMDSS, a comprehensive software platform, is positioned as a central hub for credible and decisive information about Nigeria’s mineral resources, facilities, and infrastructure, effectively serving as a one-stop shop for potential investors seeking to explore opportunities within the mining sector.
The introduction of the NMDSS signifies a significant step towards fostering transparency, accessibility, and investment opportunities in Nigeria’s mining industry. The government’s commitment to enhancing the ease of doing business in this sector is evident through the development and launch of this pivotal decision support system. As the mining industry continues to evolve, initiatives such as the NMDSS are instrumental in paving the way for sustainable growth and development, both for local and foreign investors.