Segilola Resources Operating Ltd, a reputable mining company situated in Ilesha, Osun state, has vigorously championed tactical investment in the lithium market in Nigeria. The CEO of the company, Mr Segun Lawson, underscored the escalating demand for lithium as a pivotal mineral in the global energy transition during his presentation at the 2024 African Natural Resources and Energy Investment Summit (AFNIS) in Abuja.
The company has underscored the necessity for Nigeria to take advantage of its abundant lithium reserves and other valuable minerals. Mr Lawson conveyed his contentment at Nigeria’s acknowledgment for its extensive mineral resources, particularly lithium, which is found in substantial quantities within the nation.
Nevertheless, he also highlighted the challenges encountered by the solid minerals sector, such as illegal mining, environmental degradation, and the involvement of underage individuals in mining activities. He underscored the significance of concerted efforts and stakeholder engagement to effectively address these issues.
Additionally, Mr Lawson expressed apprehensions about the impact of insecurity on mining activities, leading to a substantial loss of revenue for the country. He brought attention to the federal government’s initiatives to combat illegal mining by establishing the Mining Marshals, a specialized unit comprising members of the Nigeria Security and Civil Defence Corps (NSCDC).
Despite the obstacles, the CEO commended the commitment demonstrated by Segilola Resources Operating Ltd in enhancing the local economy of its host communities, with 98% of its workforce being local employees. He underscored the company’s dedication to sustainable and responsible mining practices.
The ongoing AFNIS has furnished a platform to exhibit Nigeria’s abundant mineral resources on a global scale, with the aim of attracting investment in the solid minerals sector. Mr Lawson expressed confidence in the summit’s potential to position Nigeria and Africa as appealing destinations for solid minerals investment.
The theme of the summit, “Natural Resources for Economic Development,” is in alignment with the objective of promoting the economic development of Nigeria and the African continent through the responsible exploitation of natural resources.
In conclusion, Segilola Resources Operating Ltd’s advocacy for strategic investment in Nigeria’s lithium market serves as a testament to the promising opportunities within the country’s solid minerals sector. With the right investment and collective efforts to address existing challenges, Nigeria can harness its mineral wealth for sustainable economic growth and development.