Nigeria, often synonymous with its abundant oil reserves, possesses substantial solid mineral endowments that have the potential to fuel economic growth and generate employment opportunities. This untapped resource has the capacity to diversify the economy and make a significant contribution to the nation’s GDP. To provide clarity on this matter, Dr Kayode Abdulgafar Amuda, an esteemed academic and geoscientist, has shared valuable insights on Nigeria’s mineral wealth and the strategies required for sustainable development.
Dr Amuda, highly regarded for his expertise in modern exploration techniques, has underscored the necessity of leveraging Nigeria’s vast solid mineral resources. He has highlighted the diverse array of metallic minerals, non-metallic minerals, and energy minerals found within the country’s geological formations, including gold, iron, lead, zinc, and gemstones. Despite this wealth, Nigeria’s mineral sector contributes less than 1% to the GDP, largely due to overreliance on oil, unstable policies, and outdated geoscience data.
He has commended the efforts of the Minister of Solid Minerals, Honourable Dele Henry Alake, to attract foreign investment, enhance legal frameworks, and update data, with the aim of diversifying the economy away from oil dependency. Dr Amuda has cited the potential for the mineral sector to contribute at least 10% to the GDP if these efforts are effectively implemented.
Discussing the importance of a reliable database, Dr Amuda has stressed the need for accurate and up-to-date information on mineral resources to guide investment decisions and policy formulation. He has emphasized the role of remote sensing technology in delineating economically viable metallic deposits and preventing misleading resource estimation figures. Explaining the influence of reporting standards on mining practices, he has highlighted the need for transparency to enhance investor confidence and foster responsible mining practices.
Dr Amuda has also addressed the key elements necessary to attract and retain investors in Nigeria’s mining industry, emphasizing the importance of a stable regulatory environment, financial incentives, and infrastructure investment. He has underscored the crucial role of processing facilities in converting raw minerals into marketable products and has encouraged regulatory requirements for environmentally responsible operations.
Looking to the future, Dr Amuda has acknowledged the promising potential of mineral exploration in Nigeria but has highlighted the need to address challenges such as state government interference in mining activities. He has stressed the importance of preparing the youth for careers in the mining industry through up-to-date data, practical training, and collaboration between academic institutions and mining companies.
In addressing the professional commissioning, licensing, and regulatory agencies, Dr Amuda has supported the establishment of the Nigerian Solid Minerals Corporation while emphasizing the need to avoid duplication of efforts and centralize oversight to ensure compliance with regulations.
Finally, in combatting illegal mining, Dr Amuda has proposed a comprehensive approach involving strengthened regulatory frameworks, increased surveillance, alternative livelihoods, and public awareness campaigns.
In conclusion, Dr Kayode Abdulgafar Amuda’s expertise and insights shed light on the immense potential of Nigeria’s solid mineral wealth. His recommendations for sustainable development and strategic investment provide a valuable framework for harnessing this resource to drive economic growth and create opportunities for the nation’s youth. As Nigeria looks to diversify its economy, the mineral sector presents a compelling avenue for sustainable development and prosperity.